Obama Appoints Urban League's Morial to Financial Advisory Council
James Wright | 3/2/2014, 2:18 p.m.
President Obama appointed Marc Morial, president of the National Urban League, to a panel that will counsel the administration on helping young people make wise financial decisions.
Morial agreed to serve on the president's Advisory Council on Financial Capability for Young Americans on Wednesday, Feb. 26. Morial, the former mayor of New Orleans, will advise administration officials on how to encourage sound financial practices and habits among young people that will increase their upward mobility.
"I am extremely honored by this opportunity to serve on [the council] and further serve our nation in helping to confront some of the primary issues of our time," Morial, 56, said. "Whether we refer to them as income inequality, loss of social mobility, the eroding middle class or opportunity inequality, at their core is a great divide that threatens our present and our future.
"We must work together to ensure that the very essence of 20th century America — the possibility of upward mobility for all — does not become elusive and distant in the 21st century," he said.
Other African-Americans on the council include John W. Rogers, who owns an investment firm in Chicago, and John Hope Bryant, a financial literacy entrepreneur based in Los Angeles.