information gaps by expanding workers ’ networks, providing legitimate information, and identifying new job opportunities. but finally, the pressure that community - based organizations exert on financial regulators must continue. access to credit is an enduring challenge, and the obstacles and problems – all the “ broken windows ” you see on the block – must be reported and explained. they must be understood by the federal policymakers who are responsible for enforcing our country ’ s laws and regulations in the realm of access to credit ; by the federal policymakers who engage in the conduct of monetary policy ; and by the federal policymakers whose actions contribute to the shaping of the landscape for financial services in this country. your voices – whether you are reporting, documenting, monitoring, analyzing, proposing, or even protesting – must be heard. your voices are crucial to alerting policymakers to the significant developments and emerging trends in the nation ’ s communities that must be confronted – and confronted in a swift and decisive way – if we are to make prosperity a national agenda that touches every american. thank you. bis central bankers ’ speeches

society for training and development indicated that employers committed $ 172 billion in 2011 to employee training. see american society for training and development ( 2011 ), “ 2011 state of the industry report shows increased spending, commitment for l & d, ” december 20. this investment, however, traditionally funds the highest - educated and highest - paid employees. the hitachi foundation has suggested that considering a reallocation of even a small portion of these funds toward frontline workers would offer benefits to both employers and employees. as an example of these employer practices, right here in our backyard, the community foundation for the national capital region piloted the “ career navigators ” program with three hospitals in maryland ’ s montgomery county and one in the district of columbia to help employees navigate a pathway to better jobs with their current employer. these hospitals concluded that investing in training and education for top - performing, entry - level staffers in positions such as housekeeping, food service, and patient transport could provide a pipeline for the skilled employees that the hospitals would rely upon in the future. employees receive support with literacy and college - readiness training, career coaching, and scholarships. the program also helps hospitals document internal career pathways and train the human resource staff to serve as career coaches. throughout these efforts, the participating hospitals have reported enhanced employee engagement, reduced errors, and improved performance. see ted howard ( 2012 ), “ owning your own job is beautiful thing : community wealth building in cleveland, ohio ( pdf ), ” in nancy o. andrews and david j. erickson, eds., investing in what works for america ’ s communities ( san francisco : federal reserve bank of san francisco and low income investment fund ). see also gar alperovitz ( forthcoming april 2013, chelsea green ), what then must we do? the success of the “ cleveland model ” has spurred new efforts in places as diverse as amarillo, texas ; atlanta ; pittsburgh ; richmond, california ; and washington, d. c. see ted howard ( 2012 ). bis central bankers ’ speeches policymakers. you are the ideal audience for this message because you know how to link federal policymaking with economic empowerment. ncrc has grown to an association of more than 600 community - based organizations that promote access to basic banking services to create and sustain affordable housing, jobs, and vibrant communities for america ’ s working families. community - based organizations like many of those represented in this room will need to consider how to work with low - wage workers to bridge