Congresswoman Beatty Hosts Issues Forum to Explore “Money, Wealth and Disparities: Diversity and Inclusion Matter”
Yesterday, U.S. Congresswoman Joyce Beatty (OH-03) served as honorary host for the Issues Forum, “Money, Wealthy and Disparities: Diversity and Inclusion Matter,” during the Congressional Black Caucus Foundation (CBCF), Inc.’s 49th Annual Legislative Conference (ALC).
Nearly 400 people joined Beatty for a panel discussion focused on empowering attendees to implement practical steps to build wealth, identify and breakthrough historic societal and economic barriers, address the racial wealth gap, and leave a financial legacy for their families.
During Beatty’s Issues Forum, the standing-room only crowd heard from a distinguished group of experts, including moderator Dr. Michael Eric Dyson, Ariel Investment co-CEO and founder John Rogers, Executive Director of the Kirwan Institute Darrick Hamilton, GM Financial Global Vice President of Diversity and Inclusion Shunda Robinson, international artist and entrepreneur Cedric Brown, KPMG Chief Diversity Officer Michele Meyer-Shipp, and Executive Director of the Corporate Diversity and Inclusion Forum Joseph Vaughn.
“Diversity and inclusion matter because being in the room means opportunity,” Beatty said. “As the first-ever Chair of the House Financial Services Subcommittee on Diversity and Inclusion, I am fighting each and every day to ensure all Americans have that opportunity to succeed.” Beatty continued, “Our panelists know all too well the value of being in the room as well. So, while we all agree that progress has been made, including recently when the House unanimously passed the Beatty Rule, there is much more work to be done.”
On September 10th, the U.S. House of Representatives advanced Beatty’s signature piece of legislation, the Ensuring Diverse Leadership Act, H.R. 281, also known as the ‘Beatty Rule.’ If enacted into law, the Beatty Rule would require that at least one gender diverse candidate and one racially or ethnically diverse candidate be interviewed when there is vacancy among the Federal Reserve Bank presidents. The bill is awaiting further consideration by the U.S. Senate, where companion legislation was introduced by Senator Kamala Harris (D-CA)
H.R. 281 is modeled after the National Football League’s (NFL) ‘Rooney Rule,’ which was instituted in 2003 to increase diversity among top positions in the League. Since, the Rooney Rule has been successfully replicated by numerous companies off the gridiron.