Scott Hosts Financial Services Career Development Event for Students at HBCUs

Students had the opportunity to hear from federal regulators, industry leaders

WASHINGTON - Yesterday, U.S. Senator Tim Scott (R-S.C.) hosted a virtual career development event for students at Historically Black Colleges and Universities (HBCUs) in South Carolina and across the country. During the event, students had the opportunity to join federal regulators and leaders from local and international financial services firms for a discussion on the importance of financial literacy and career pathways in the financial services industry.

Participants included:

• Michelle Bowman, Board Member, Board of Governors of the Federal Reserve System
• Travis Hill, Vice Chairman, Federal Deposit Insurance Corporation Board of Directors
• Lindsey Torrico, Senior Vice President of Bank Community Engagement at the American Bankers Association and Executive Director of the ABA Foundation
• Cal Hurst, President, Southern First Bank
• James Bennett, Executive Director of External Affairs, First Citizens Bank
• Dewey Norwood, Senior Vice President, Wells Fargo
• Dwayne Logan, Vice President of Social Impact/Strategy & Planning, Fidelity
• Adama Iwu, Vice President for Political Strategy & External Partnerships, Visa
• Lisa Plaggemier, Executive Director, National Cybersecurity Alliance
• Patrick Means, Vice President and Branch Manager, Charles Schwab

"Thank you to each HBCU for attending and the students that are with us today. Thank God you're here - it's really all about you anyway. We want to make sure that we continue to make progress in an area where we have low participation from the African American community and a desperate need for more participation. I'll simply say this, as a kid who grew up in poverty in a single parent household, one of the things that I've learned along the way is that financial literacy is such a critical component to the success that you will achieve later in life. Frankly, I know without a doubt, that if you apply yourselves, you will achieve outstanding, remarkable, amazing success. One of the most important rungs of the ladder is in fact, financial literacy, and being a participant in the financial industry. It's one of the things that we hope to cover today, from the regulators to the business partners who are here with us today, giving you an opportunity to see the cross section of industry and why it's in your best interest to be a part of that industry,"said Senator Scott in his remarks.

BACKGROUND:

As the top Republican on the Senate Banking Committee, and as co-chair of both the Senate Financial Literacy Caucus and the Congressional HBCU Caucus, Senator Tim Scott has prioritized financial literacy and financial education to ensure all Americans have the tools to climb the ladder of success.

Ensuring Americans have awareness of and access to financial literacy tools is a keystone of two pieces of legislation championed by Senator Tim Scott. His comprehensive housing legislation, the ROAD to Housing Act, increases access to high quality housing counseling and financial literacy programs for families looking to buy a home or struggling to stay in one. In addition, the Senator's capital markets package, the Empowering Main Street in America Act, will enhance financial education programs to increase market understanding and participation, which will ultimately help more Americans achieve financial security.

Senator Scott led a resolution to declare April 2024 as Financial Literacy Month.

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