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Oct 4, 2022

Nicole Elam Announced as Inaugural Member of Treasury Department’s 25-Member Formal Advisory Committee on Racial Equity


In conjunction with today’s annual Freedman’s Bank Forum, U.S. Secretary of the Treasury Janet L. Yellen announced National Bankers Association President and CEO Nicole Elam as an inaugural member of the Treasury Advisory Committee on Racial Equity (TACRE). 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.In response to the TACRE announcement, Nicole Elam released the following statement:

“I am honored to be a part of the Treasury Advisory Committee on Racial Equity. I look forward to working with my fellow members and am excited to see how this committee will advance racial equity in the financial services industry. Financial inclusion and access to capital are two main pillars of the NBA’s work and I cannot wait to amplify our mission and vision of strengthening and sustaining MDIs so they can support the communities they serve. A huge shout out to all NBA Strategic Partners involved in this exciting announcement, and their commitment to remain steadfast in ensuring MDIs can survive and thrive."

Elam participated in a panel at today's Freedman's Bank forum, moderated by Deputy Secretary of the U.S. Treasury Wally Adeyemo, on the Economic Opportunity Coalition. The panel built upon Vice President Kamala Harris' Economic Opportunity Coalition (EOC) announcement from July 2022 and addressed economic opportunity, racial equity, and creating an economy that unlocks the economic potential of communities of color. The full recording of that event is available here.

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