Meeting focused on ensuring Dodd-Frank Wall Street Reform and Consumer Protection Act
Washington, D.C. – August 18, 2010 — U.S. Senator Daniel Kahikina Akaka and John Hope Bryant, the founder, chairman and chief executive officer of Operation HOPE, America’s leading financial literacy empowerment nonprofit, met earlier this month to discuss ways to encourage the development of financial literacy as a mainstream issue.
The Senator from Hawaii expressed his support of Operation HOPE and the Financial Services Roundtable’s Framework Agreement and noted their first year’s successes that benefited millions of Americans.
“John and I share a commitment to educating, protecting and empowering all individuals through financial literacy and economic education. I applaud the efforts of Operation HOPE and the Roundtable, and I look forward to working together with them to provide financial literacy opportunities to individuals that need them most,” said Senator Akaka.
Discussions between Akaka and Bryant focused on strategies to promote financial literacy, the work of the Financial Literacy and Education Commission and the President’s Advisory Council on Financial Capability, the Obama Administration’s task force for encouraging financial awareness and financial literacy provisions included in the Dodd-Frank Wall Street Reform and Consumer Protection Act.
“Financial literacy is an issue that affects not only the underserved, but all families struggling through this economic crisis,” said Bryant, who also served as vice-chair of the President’s Advisory Council on Financial Literacy. “It’s not just about finding ways to make more money. It’s about finding ways to do more with the money you have.”
Senator Akaka reaffirmed his commitment to working with his fellow Members of Congress to emphasize the importance of financial literacy for all Americans and building on successful existing financial literacy activities. Operation HOPE signed a Memorandum of Understanding with the Financial Services Roundtable in 2009. 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. In the past year alone, they reported that through the support of 300,000 Financial Roundtable Services member company employees and financial literacy and empowerment nonprofits like Operation HOPE, 9.4 million Americans were helped in the past year.
The Senator and Mr. Bryant plan to continue their encouraging dialogue on how to educate and empower Americans through financial literacy education, making sure the recently enacted financial reform bill works for all Americans and the next steps to making sure that such a crisis never happens again.
About Operation HOPE, Inc.
Since its founding in 1992, Operation HOPE's mission has been to promote "silver rights" and make free enterprise and capitalism work for the underserved. The social investment banking nonprofit has provided financial literacy and economic empowerment services to more than 1.2 million people, raised more than $500 million and helped to restructure more than $360 million in sub-prime mortgages from the private sector, for a total of approximately $900 million in economic activity for the disenfranchised. Follow Operation HOPE at www.operationhope.org, www.twitter.com/operationhope, and www.facebook.com/operationhope.