Treasurer Secretary Janet Yellen has appointed Janis Bowdler, former director of economic policy at UnidosUS, in a new position designed to help advance the department's efforts for racial equality.
As a new adviser on racial equality, Bowdler will continue to build on the latest work done by the Department of Finance aimed at removing barriers to disadvantaged communities in accessing benefits and opportunities.
Some of the efforts he will make include improving access to child tax revenue and understanding how Social Development Financial Institutions, or CDFIs, and Small Reserve Centers can increase access to income for all colored communities, among other efforts.
"The Department of Finance must play a major role in ensuring that as our economy recovers from the epidemic, it is recovering in a way that addresses the inequalities that existed long before anyone was affected by Covid-19," Yellen said in a statement on Monday.
The announcement comes nine months after President Joe Biden signed an administrative letter urging the unity government to "pursue a broader approach to promoting equality for all, including people of color and others who have historically been marginalized."
Following Biden's mandate, the Department of Finance conducted an internal review of racial equality and identified the need for a senior executive who could dedicate himself to advancing racial equality efforts and involving staff in various departments within the department to achieve that goal, the department said. an official told NBC News.
"I have not been humbled in this way to get a historic opportunity to work as the first Adviser to the United States Treasury Department for Racial Equity," Bowdler, 43, said in a statement Monday.
"I have used all my work to work in partnership with Blacks, Latinos, AAPI, Indigenous communities, and other colored communities to end structural and institutional discrimination that perpetuates racial segregation," added Bowdler, using the abbreviation to refer to Asians. Americans and Pacific Islanders. "Addressing racial and gender inequalities and giving marginalized communities greater access to opportunities creates.
In her new role she will also be tasked with forming a racial equity advisory committee that will be able to provide advice and expert advice to the department's leadership. The committee will include academics, researchers, industry leaders, community leaders, lawyers and philanthropists.
Bowdler began his career as a case manager with community development organizations in his Ohio area that focused on being a viable homeowner and renting opportunities for black families.
Most recently, he served as president of JPMorgan Chase & Co. The Foundation, which has played a key role in advancing its $ 30 billion equity commitment, according to the Department of Finance and implementing programs to increase financial access for color entrepreneurs and improve access. in products and banking activities in neglected communities.
Prior to that, Bowdler spent 10 years at UnidosUS, the largest Latino-based human rights organization, focused on talking about economic mobility, including retirement security, housing, banking, social development, consumer protection and job creation.
He gave an analysis in congressional evidence that risky borrowing practices unfairly target Latin families with low mortgage rates.
Bowdler has authored a number of books on financial and economic mobility, including “Building Equitable Cities: How to Drive Economic Growth and Regional Growth,” in collaboration with Henry Cisneros and Jeff Lubell.