Yellen creates racial equity panel, appoints HOPE’s Bynum to committee

by David Baumann, CUCollaborate

Treasury Secretary Janet Yellen has announced the formation of a Treasury Advisory Committee on Racial Equity and that Bill Bynum, CEO of HOPE, will serve on the panel.

Among other activities, HOPE operates the Hope Federal Credit Union, which is headquartered in Jackson, Mississippi.

Shortly after Yellen’s announcement, the committee was denounced by a key Republican House member and by Fox News.

What Will the Committee Do?

In announcing the committee, Yellen said the panel will provide recommendations on how to advance racial equity in the economy and address disparities for communities of color. The committee’s work will include financial inclusion problems and access to capital and economic development.

 

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