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Operation HOPE Founder and Financial Literacy Proponent Puts "Silver Rights" on Federal Reserve Agenda Financial Empowerment Organization Meets With Federal Reserve in an Effort to Ensure That Underserved Communities Keep Access to Financial Opportunities LOS ANGELES, CA--(MARKET WIRE)--Aug 20, 2008 -- John Hope Bryant, Operation HOPE (HOPE)
founder and chief executive officer, who also serves as
vice chair on the
U.S. President's Advisory Council on Financial Literacy
(the Council),
discussed today his historic meeting earlier this month
with the Federal
Reserve chairman and its board of governors to address the
importance of
financial literacy and education and the "silver rights
movement" for
America's underserved communities.
"As the 'silver rights movement' continues to build momentum, the recent meeting with Chairman Bernanke only supports the mission critical efforts of the Council's work and Operation HOPE's longtime goals," said Bryant, who also serves as chairman of The Committee of the Underserved, a subgroup of The Council. "I believe our meeting today will be the start of a historic shift in how America and Americans approach personal finance and financial literacy. As our current economy shows, 'silver rights' is not an issue of the poor, it affects us all." Federal Reserve Board Governors in attendance included Chairman Ben S. Bernanke, Vice Chairman Donald L. Kohn, Kevin M. Warsh, and Governors Randall S. Kroszner, Frederic S. Mishkin, and Elizabeth A. Duke. Operation HOPE and the Federal Reserve For over a decade, Operation HOPE has worked closely with the Federal Reserve, beginning the alliance in 1993 with the work of the late Preston Martin, a national HOPE board member and former vice chairman of the Federal Reserve. Since then, HOPE has worked with Fed chairmen Alan Greenspan and Ben Bernanke and other board members, including Joy Hoffman, group president of the Federal Reserve Bank in San Francisco, and Alicia Williams, vice president and community affairs officer of the Federal Reserve Bank in Chicago. This long-standing relationship has resulted in a variety of initiatives that ensure the underserved communities and community members across the country can have accurate information and reliable access to basic financial opportunities, such as mortgages and loans for homeownership. In addition to Operation HOPE's efforts with the Federal Reserve, other and future initiatives include the Mortgage HOPE Crisis Hotline (1-888-388-HOPE) and the 5 Million Kids Campaign, aimed at stemming the tidal wave of high school dropouts by highlighting the importance of education in future financial successes. About Operation HOPE Operation HOPE is America's leading nonprofit social investment banking and financial literacy empowerment organization. With more than 400 private sector partners, 1500 nonprofit organizations and schools, and 100 government partners in 30 major U.S. cities as well as South Africa, Operation Hope has raised more than $400 million in its pursuit of educating, assisting and inspiring the next generation of global stakeholders. Through international initiatives and its three principal programs: Banking on Our Future (teaching school children about money), HOPE Coalition America (Mortgage HOPE Crisis Hotline 1-888-388-HOPE, financial emergency preparedness and disaster relief), and Walk-In HOPE Centers (loans, bill pay, computer literacy, understanding banking principles), Operation HOPE has assumed the responsibility of piloting the "silver rights" movement towards making free enterprise and capitalism relevant to all underserved communities. Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=820154 Contact: Sherry T. John
213.891.2908
Sherry.john@operationhope.org
Source: Operation HOPE, Inc.
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