
Nashville’s mayor has convened a new committee to find ways to help low-income residents achieve financial stability.
Announced this morning, the chairman of the group will be Eddie George, the retired Tennessee Titans running back and a partner in a wealth management company.
George says he grew up in a single-parent home without much money and was taken advantage of early in his career.
“I didn’t really truly know the difference between an agent, a CPA and an investment advisor,” George says. “And along with that, I didn’t know what kind of loans to get for cars and houses and so forth, so I had to learn the hard way.”
George will be joined by business leaders, bankers, academics, and the new director of Metro Schools — Shawn Joseph.
The group’s challenge is to craft financial literacy programs that go beyond the existing
Financial Empowerment Center. That small, city-run office helps residents to increase savings and reduce debt.
The mayor says she wants a report from the committee by the end of the year.