U.S. President's Advisory Council on Financial Literacy-Office of the Vice Chair Blog

Minor Correction on National Mortgage News Article

A recent article by the respected National Mortgage News cited John Hope Bryant as chairman of the President's Council.  The Council Chair is Mr. Charles Schwab, and Council Vice Chair is John Hope Bryant. The error is understandable given that Mr. Bryant does also serve as Chair of the Council’s Committee on the Under-Served, which orchestrated the creation of the recent “Recommendation of Best Practices with respect to The Future of Responsible Sub-Prime Mortgage Lending” report.  The article referenced this report and an FDIC speech given by Mr. Bryant regarding same. Accordingly, this correction is simply noted for the public record and out of respect for Mr. Schwab.

The Committee's work and subsequent report in this regard, now available publicly on the U.S. Treasury website, speaks to overall "best practices" with respect to the future of responsible mortgage subprime lending, rooted in financial literacy.

The report leaves specifics such as underwriting standards to private industry.

FDIC Puts Spotlight on Loans to Poor

By: Joe Adler

American Banker, 7/1/2008 -- Two Federal Deposit Insurance Corp. events next week will focus on promoting mortgage lending to low- and moderate-income households.

On July 8, Treasury Secretary Henry Paulson, Federal Reserve Board Chairman Ben Bernanke, and JPMorgan Chase & Co. chief executive James Dimon are to be headline speakers at a forum on low-income mortgage lending in the FDIC's building in Arlington, Va.

Pay Dirt: Promoting financial literacy

The Urban Financial Services Coalition is in the Twin Cities to promote financial literacy, personal responsibility and banking careers.

By KARA McGUIRE, Star Tribune

Last update: June 28, 2008 - 4:21 PM

On the heels of the civil rights movement, two black bankers created the Urban Financial Services Coalition in 1974 to support fellow minority bankers and the communities that they serve.

The group, which held its 34th national conference in Minneapolis earlier this month, today boasts around 2,000 members with 21 professional chapters around the country. One of the newest is the Twin Cities chapter. Read the complete story here.

Vice Chair John Hope Bryant Interviewed by BBC Worldwide

This morning BBC Worldwide broadcast an interview I did with them this week around the subprime crisis, the 400 Wall Street professionals have been arrested by officials since January, my thoughts for the future, and the relationship of the subprime crisis to financial literacy. Check out the interview here.

Download john_hope_bryant_on_bbc_worldwide.mp3

Financial inclusion to overcome exclusions

Bhanoji Rao

Social cohesion and national unity are mere words unless backed by government action that ensures decent income levels and assets such as housing for each and every Indian family. If financial inclusion could contribute sufficiently to help improving the well-being of the citizenry, we can then declare that we have achieved something in the direction of moving towards a developed society.

Jack Kosakowski, Member of President’s Advisory Council on Financial Literacy on C-SPAN Today

Jack Kosakowski, Member of President’s Advisory Council on Financial Literacy, discusses the efforts by the President's Advisory Council on Financial Literacy & Congress to help young people avoid future credit crises. Mr. Kosakowski is also president of Junior Achievement USA.
Washington, DC : 30 min. Get more information here.