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A Pragmatic and Tangible Plan of Action

The U.S. Consumer Financial Protection Bureau (CFPB) is partnering with American Bankers Association to empower those who earn less than 50k

Photo of Alaine Newland
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Supported by a national alliance with the U.S. Consumer Financial Protection Bureau (CFPB), and with the ongoing support of the American Bankers Association and Protective Life, Project 5117’s mission is to strengthen the economy by focusing on empowering those who earn less than $50,000 a year.

According to Project Hope's website, this initiative will activate communities around the following initiatives:


  • 5 million youth empowered with a new level of financial literacy through unique financial dignity education programs, that have successfully been taught in 3,500 schools across the country. The program ensures basic consumer protection education for a generation, while making smart cool, so they stay in school.

  • 1 million of these empowered youth will have an opportunity to become future entrepreneurs and local job creators through HOPE Business In A Box Academies, supported by a 100-year partnership with the Gallup Organization. This effort powerfully reconnects education with aspiration in the lives of our youth. By the year 2020 there will be 2,000 HOPE Business In A Box Academies across the United States, in both urban and rural communities. 2013 Pilot Results

  • 1,000 first-ever bottom-up empowerment centers, branch banks with HOPE Inside units spread through out America and 5,000 certified locations containing “HOPE Inside Plus” units. This plan is consistent with the long-term growth strategies of top regional and money-center banks, and appreciates the under-utilized, 100,000 unit branch banking network across America.

  • 700 Credit Score Communities will be attained through the expansion of HOPE Inside and “HOPE Inside Plus” locations. These communities will have access to credit counseling, education on credit and money management, and debt management, offered in an individual or group setting. 

  • >> This initiative operates at a national level but measures success locally within communities. By offering an actionable plan for individuals, families and communities, we start to see a shift towards a fresh generation of financially literate people. What other initiatives exist that operate nationally but impact locally, and what can we learn from their collective efforts?

    Watch more about the Project Hope here and at www.projecthope.org.

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    Photo of Anne-Laure Fayard

    Thanks Alaine for sharing. I find the point about education very important and it's a point that seems also at the core of the Philadelphia's Financial Empowerment Centers: https://openideo.com/challenge/financial-empowerment-challenge/research/shared-prosperity-the-case-of-financial-empowerment-centers-in-philadelphia