Treasury Department Announces Inaugural Members of Advisory Committee on Racial Equity 

HOPE CEO Bill Bynum appointed to formal committee advising Secretary, Deputy Secretary 

WASHINGTON – In conjunction with today’s annual Freedman’s Bank Forum, U.S. Secretary of the Treasury, Janet L. Yellen, announced the inaugural members of the Treasury Advisory Committee on Racial Equity. The first-of-its-kind committee will provide advice and recommendations to Secretary Yellen and Deputy Secretary Wally Adeyemo on efforts to advance racial equity in the economy and address acute disparities for communities of color.  

Toward that end, the Committee will identify, monitor, and review aspects of the domestic economy that have directly and indirectly resulted in unfavorable conditions for communities of color. The Committee plans to address topics including but not limited to: financial inclusion, access to capital, housing stability, federal supplier diversity, and economic development. 

“A critical piece of executing on our racial equity goals is bringing a wide set of outside perspectives and lived experiences to the decision-making table,” said Secretary of the Treasury Janet L. Yellen. “The Treasury Advisory Committee on Racial Equity, made up of members with wide-ranging backgrounds and expertise, will provide important insight and advice to leadership across the department to bolster and inform our equity efforts.”  

The 25 inaugural members of the Committee come from a wide range of backgrounds including academia, advocacy, financial services, and local government.  Members share a common experience with and working knowledge of the implications of economic policy decisions on communities of color, as well as a deep commitment to advancing racial equity. 

HOPE CEO, Bill Bynum, was appointed to serve a two year term. “As America becomes more diverse, making racial equity a priority in policy decisions serves the nation’s collective interest and makes the economy more resilient,” said Bynum.  “Secretary Yellen and the Biden-Harris administration are to be commended for taking this historic step.  I look forward to bringing voices from the Deep South to this important work.”

The Committee is a product of Treasury’s department-wide equity assessment last year, in which the team identified a goal of creating an institutionalized way to gather on-the-ground insights and recommendations on racial equity efforts. 

Members of the Inaugural Treasury Advisory Committee on Racial Equity include: 

Michael Nutter, David N. Dinkins Professor of Professional Practice in Urban and Public Affairs, Columbia University and former Mayor of Philadelphia (Chair) 

Nicole Anand, Deputy Director, Inclusive Action for the City 

Janie Barrera, President and CEO, LiftFund, Inc.   

Nicole Borromeo, Executive Vice President & General Counsel, Alaska Federation of Natives 

Dorothy Brown, Professor of Law, Georgetown University 

William (Bill) Bynum, Chief Executive Officer, Hope Enterprise Corporation, Hope Federal Credit Union, Hope Policy Institute 

David Clunie, Executive Director, Black Economic Alliance 

Gary Cunningham, President & CEO of Prosperity Now 

Nicole Elam, President and Chief Executive Officer, National Bankers Association (NBA) 

John Friedman, PDBF Distinguished Professor of Economics and International and Public Affairs, Brown University 

Gilbert Garcia, Managing Partner, Portfolio Manager, Garcia Hamilton & Associates, L.P.     

Bulbul Gupta, President & CEO, Pacific Community Ventures 

Darrick Hamilton, University Professor and Henry Cohen Professor of Economics and Urban Policy, The New School 

Michael McAfee, President and CEO, PolicyLink 

Michael Miebach, CEO, Mastercard 

Gina Nisbeth, Founder and President, 9^th & Clinton Advisory 

Lorella Praeli, Co-President, Community Change & Community Change Action 

José Quiñonez, Founding CEO, Mission Asset Fund 

Carlos Rangel, Chief Investment Officer, W.K. Kellogg Foundation (WKKF) 

Valerie Red-Horse Mohl, Co-Founder, Known Holdings 

Amanda Renteria, Chief Executive Officer, Code for America 

John Rogers, Founder, Chairman & Co-CEO, Ariel Investments 

Chiling Tong, President and Chief Executive Officer, National Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship (National ACE) 

Barika Williams, Executive Director, The Association for Neighborhood Housing & Development (ANHD) 

Felicia Wong, President and Chief Executive Officer, The Roosevelt Institute, Roosevelt Forward 

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About HOPE

HOPE (Hope Enterprise Corporation, Hope Credit Union, and Hope Policy Institute) provides financial services; aggregates resources; and engages in advocacy to mitigate the extent to which factors such as race, gender, birthplace, and wealth limit one’s ability to prosper. HOPE has generated or leveraged more than $3.6 billion in financing that has benefitted over 2 million people in Alabama, Arkansas, Louisiana, Mississippi, and Tennessee. Learn more at www.hopecu.org.