Bestselling business leadership author and philanthropic entrepreneur
In the 50 years since the civil rights movement and Dr. King's dream, one problem (racism) has been replaced or at least matched by another -- poverty. Urban poverty, rural poverty, and poverty that hits blacks, whites, browns and others alike. As I have said previously in the Huffington Post, poverty is the new racism. If you are poor, everything pretty much sucks.
The old model of racism was based on race and the color line. The new model of racism is rooted in class and poverty. The old racism was obvious in signs that read White Only, from the southern states in the U.S. to South Africa. The new racism is more obvious in Misery Row.
Whether it is a feature on a boulevard in an urban city or a rural town, or whether it is at the entrance of a military base, the Misery Row looks pretty much the same. Predatory check cashers, next to rent to own stores, payday lending stores, title lending stores, and liquor stores.
One group of financial predators takes advantage of your financial problems and misfortune, while another associated group benefits by helping you to forget you actually have any.
Operation HOPE, the organization that helped to pioneer financial literacy as U.S. federal policy in January, 2008, as then President George W. Bush signed an Executive Order inspired by our on-the-ground work, is proud to once again have its work cited amongst U.S. policy makers.
Recently my Operation HOPE, Washington, DC and Operation HOPE, Maryland teams came together and had a very successful Banking on our Future volunteer event at Francis Scott Key Middle School in Silver Spring, MD. There were over 100 HOPE Corps volunteers present and involved, and included employees from the U.S. Office of the Comptroller of the Currency, Women in Housing and Finance, Capital One, Fannie Mae, M&T Bank, Bank of India, BB&T Bank, Sandy Spring Bank, Bank of America, First Mariner Bank, FDIC, City First Bank, ETrade Bank, Wells Fargo, Bank of Georgetown, and FINRA.
A special thank you to my friend and financial dignity supporter, Maryland State Comptroller Peter Franchot, who teamed up with US Comptroller of the Currency Barry Wides to teach a Banking on Our Future financial literacy class. Maryland Comptroller Franchot and US Deputy Comptroller Wides also spoke to the volunteers about Franchot's mission to get each county in Maryland to adopt a graduation requirement for a financial literacy class in the senior year. Severak counties have already signed on to support this financial dignity leadership initiative of Comptroller Franchot. Operation HOPE certainly supports him.
A special acknowledgement to Jackie Starr, who is our Operation HOPE market president for the Washington, D.C. and Maryland.
Operation HOPE, Washington, DC and Operation HOPE, Maryland are part of the larger mission of Operation HOPE, which is now a leading global provider of financial literacy to financial dignity empowerment services for the underserved, the working poor and the struggling middle class.
With 2 million clients served, 20,000 HOPE Corps volunteers, and more than $1.5 billion in private capital directed into America's low wealth and underserved communities, creating thousands of homeowners, small business owners and entrepreneurs over the past 20 years, Operation HOPE is making a difference. But we cannot achieve our mission alone. We cannot seek to advance the final work of Dr. Martin Luther King, Jr., eradicating poverty and achieving a measure of economic justice for all, alone.
Operation HOPE operates the HOPE Financial Dignity Center Atlanta at Ebenezer Church, located on the campus of the King Center and as the anchor tenant of the Martin Luther King, Sr. Community Resource Complex. Martin Luther King, Sr, or "Daddy King" as he was called, co-pastored Ebenezer Church with his son Dr. Martin Luther King, Jr. during the civil rights movement, and served on the board of a bank for 40-years; a little known fact. Daddy King was also focused on making free enterprise work for all, as his son was focused in the last years of his life on poverty eradication and economic justice.
The mission of Operation HOPE is civil rights to silver rights, or making free enterprise work for all.
21 years ago, this day, May 5th, 2013, the bold vision of and for Operation HOPE was born in South Central Los Angeles, immediately following the Rodney King Riots of April 29th, 1992.
"Rainbows, after storms. You cannot have a rainbow without a storm first."
After the Rodney King verdict came down, so many things just went dark in the community I loved so much. The community I still love. But not all things were negative, in the days and weeks and months that followed.
Congresswoman Maxine Waters and her local leadership group, led by Brenda Shockley as I recall, stood up their vision of and for Community Build. Today, Congresswoman Waters serves on the financial services committee for Congress, continuing to push her agenda for her people.
Then City Counciman Mark Ridkey-Thomas, who today is an esteemed and accomplished lead member of the Los Angeles County Board of Supervisors. I fondly remember Supervisor Ridley-Thomas for so many reasons, but a couple stand out for me. Mark (as I respectfully call him as a friend) served on our first board of directors for Operation HOPE. I remember our parting conversation. It was our first letterhead. We were committed to "eradicating poverty across America," and Mark (Ridley-Thomas) wanted to eradicate poverty and empower people IN THE 8TH DISTRICT! We were both right, but Councilman Ridley-Thomas was more right than me. He was 100% focused on empowering and serving the people in the district he was elected to serve. This impresses me now, as much as it impressed me then. I was sad to see Ridley-Thomas leave our board back then, by I so respected "why" he did it. I also got the phrase "With HOPE," which has become my global signature sign-off statement on all correspondence, from Mr. Ridley-Thomas. Finally, back then I would say that Ridley-Thomas was the only sitting elected official who really knew and understood community development, community empowerment, and the power of financial dignity in one's life.
Washington, D.C. and our nation need strong and effective leadership today more than ever. Congressman Mel Watts seems to fit that description to me. Important to me, one of my key employee's family was a constituent of the then Congressman in Charlotte, North Carolina, and they uniformly endorse him. I am told that while Congressman, Mr. Watt encouraged the local adoption of our Banking On Our Future, College Edition Program, where we educated college students in North Carolina on financial literacy. This suggests a man who doesn't just talk about things, but seeks to do thing too.
Congressman Watt has over 20 years of congressional experience on the Financial Services Committee, where he sponsored and/or co-sponsored economic empowerment legislation around homeownership, consumer protection, entrepreneurship, small business, and financial literacy. He understands the needs of prospective homeowners, the practical interests of the private sector, and the necessary role of the federal government.
I was inspired to spend a week with my HOPE, South Africa team last week, and found that they have made significant progress around our original promise of instilling and embedding principals of core consumer protection amongst a vulnerable population of women and children.
Going forward, we will be forging a bold new agenda focused on both consumer protection, and consumer empowerment too -- all leading to local GDP, jobs, small business ownership, entrepreneurship, and important in Africa, creating a generation of what we call "self-employment projects."
40,752 youth and adults educated and empowered with financial literacy over the past 5-years.
1,739 youth and adults educated and empowered during the first quarter of 2013 alone.
Approximately 2,000 HOPE Corps volunteers recruited, trained and mobilized in South Africa alone.
65 partners supporting our work, inclusive of Sanlam Insurance, our lead signature partner, Citi, the Banking Association of South Africa, the Nelson Mandela Children's Fund and the Peace Corps South Africa amongst others.
Operation HOPE and Banking on Our Future embedded into 60 local schools throughout South Africa.
From the civil rights justice of Nelson Mandela's bold generation of leaders, to the silver rights empowerment agenda available to this one, Operation HOPE is committed to the future prosperity of this great country, and the African continent overall.
An authentic, thoughtful and caring leader with a direct impact on more than $12 trillion in banking assets, is precisely the sort of transformational leader we need to see more of in inner-city, rural and under-served communities in America. For me, it is all part of a growing movement and body of work, from civil rights justice, to civil rights empowerment for all.
But the visit to Atlanta and the HOPE Center Ebenezer, located within the larger Martin Luther King, Sr. Community Resource Complex, across from the King Center in Atlanta, Georgia, was not a celebration of the vast economic progress that has been made since Dr. King's Letter From A Birmingham Jail. There has been progress, no doubt. Quite a bit in fact, but grossly uneven in its impact; even amongst African-Americans. A room full of Black prosperity is to be celebrated, but it not absent the reality of Black poverty and the unbanked which could be found less than 2 blocks away.
Frankly, much of what Dr. King attempted to deal with and address through his Birmingham Movement work, could very well be applied to the economic conditions today in both Birmingham, Alabama and Atlanta, Georgia.
The Comptroller of the Currency is the administrator of national banks
and chief executive officer of the Office of the Comptroller of the Currency (OCC).
The OCC regulates and supervises over 2,000 financial institutions,
managing over $10 Trillion dollars in assets, which represents more
than 71% of the total commercial banking assets in the US.
Prior to becoming Comptroller of the Currency, Thomas Curry served
as a Director of the FDIC since January 2004, and as the Chairman
of the NeighborWorks® America Board of Directors.
Leaders from the global, national, local and regional government
come together at HOPE Forums with private, corporate, community
and academic sectors to help America and the world discover
sustainable solutions to our economic challenges at this critically
important time. Sharing best practices and speaking on financial
literacy and economic empowerment issues from business, legislative
and educational perspectives, HOPE Forums seek to encourage
discussion and provide insight into an ever-changing industry.
HOPE Forums combine targeted keynote remarks that provide a vision
for the future, global leadership town hall sessions that encourage
strategic thinking and plenary sessions that focus on tangible and
tactical actions that can make an impact.
For more information on the HOPE Forum Series contact Jodi Brockington.
