An #EconChat with NAACP’s Dedrick Muhammad
Posted on July 14, 2011 by Curtis Johnson, Online & Social Media Specialist
Last month, we polled on Facebook and Twitter to see which NAACP program you'd like to see featured in our next Twitterview. In a close race, the Economic Programs Department emerged as the favorite. We sat down yesterday with NAACP Senior Director for Economic Programs Dedrick Muhammad to discuss the NAACP's new Financial Freedom Center, the impetus for the revamped Economic Programs department, and the NAACP's ongoing effort to ensure economic equity.
@NAACP: We’re ready to roll with our Twitterview with @NAACPecon...Thanks to all who submitted questions!
@NAACP: What is the NAACP Financial Freedom Center?
@NAACPecon: The Financial Freedom Center is the headquarters of our economic dept. We're located in the Thurgood Marshall Building in DC.
@NAACP: What services does the Financial Freedom Center provide & are those services free to the public?
@NAACPecon: Through FFC, NAACP hosts workshops on issues ranging from foreclosure & credit repair, to racial/economic inequality & economic development. We also connect communities with local economic resource organizations, including the National Federation for Credit Counseling and the Center for Responsible Lending.
@NAACP: Why did the Financial Freedom Center launch?
@NAACPecon: In the wake of financial/foreclosure crisis, we rebuilt our Economic Programs department. The Financial Freedom Campaign & the Center are our first two initiatives.
@NAACP: (via @sashaliciousDC) What are your thoughts on the Dodd-Frank Act?
@NAACPecon: The Dodd-Frank Act is an overall step in the right direction. There are challenges in implementing important pieces like @CFPB - financial regulation is essential to not repeating financial crisis.
@NAACP: How has the history of racial economic inequality contributed to the current economic conditions of African Americans?
@NAACPecon: The historic high unemployment & low wealth of blacks makes them more susceptible to the economic downturn. Two years before the Great Recession, black employment & income was on the decline. Now, the current recession equals a near depression for African Americans.
@NAACP: (via @ElectBarbara) Will the Financial Freedom Center have locations throughout the country?
@NAACPecon: We will establish 20 NAACP units as Financial Freedom Center satellites nationwide. Over the next yea we hope to have regional economic coordinators. The satellite units will be announced at our convention later this month. Stay tuned!
@NAACP: What job resources are available?
@NAACPecon: You can access our NAACP Job Finder at naacpjobfinder.com. We also host job fairs nationwide. Look for our upcoming "Opportunities for Diversity" report as well.
@NAACP: FYI, the next NAACP Job Fair is during our Convention in Los Angeles, July 26 & 27. Check naacpjobfinder.com for local opportunities.
@NAACP: Last question. How will the Financial Freedom Center monitor the financial industry to ensure they don't take advantage of the African American community in the future?
@NAACPecon: Major banks like Wells Fargo & Bank Of America have agreed to endorse our responsible mortgage lending principles & are monitoring lending practices.
@NAACP: Thanks to our Economic Programs department for sitting down with us & answering your questions- - and thank you Twitter fam for participating.