WASHINGTON D.C. – June 19, 2009 – The Financial Services Roundtable announced this week the signing of the Joint Framework of Financial Literacy (Framework) with global non-profit organization, Operation HOPE, at the HOPE Global Financial Literacy Summit.
The Framework is a landmark industry agreement between Operation HOPE and The Roundtable, designed to demonstrate the financial services industry’s commitment to financial literacy through highly visible principles and the efforts of one of the Roundtable’s leading non-profit partners, Operation HOPE.
“This Framework is the first step in achieving national and global financial literacy,” said Steve Bartlett, President and CEO, The Financial Service Roundtable. “The Joint Framework of Financial Literacy takes the necessary steps to implement the Roundtable’s commitment to financial literacy.”
John Hope Bryant, founder, chairman and CEO of Operation HOPE said, “Post global economic crisis, with 70% of the $14 trillion U.S. economy alone being driven by the consumer, financial literacy is now a civil rights issue and the first global silver rights issue. The 20th century was about emerging democracies all around the world, and the right to vote commoditized democracy for the individual around the world; from Gandhi’s efforts in India, to Dr. King’s efforts, aided by my personal hero Andrew Young, in the Southern States here in America, to Nelson Mandela’s leadership in South Africa. I am convinced that in the global economic environment we live in today, if you don’t have an understanding of the language of money (financial literacy) and a bank account in the 21st century, you are really not free to live a life of dignity, relevant freedom and opportunity.” Bryant continued, “I believe that this first ever financial services industry framework agreement with the Financial Services Roundtable is a powerful first step to establish meaningful universal financial literacy empowerment for all, here and around the world.”
The Financial Services Roundtable represents 100 of the largest integrated financial services companies providing banking, insurance, and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO.
Roundtable member companies provide fuel for America's economic engine, accounting directly for $85.2 trillion in managed assets, $980 billion in revenue, and 2.3 million jobs.
With more than 400 private sector partners, 1,500 non-profit organizations and schools, and 100 government partners in 30 major U.S. cities as well as South Africa, Operation HOPE has become one of the world’s leading non-profit social investment banking and financial literacy empowerment organizations. Since 1992, HOPE has raised more than $400 million in its pursuit of educating, assisting and inspiring the next generation of global stakeholders and assumed the responsibility of piloting a “Silver Rights Movement” towards making free enterprise and capitalism relevant to all underserved communities.