NEW YORK -- The administration of New York City Mayor Michael Bloomberg has chosen a former officer and executive with the National Federation of Community Development Credit Unions to run the city's new anti-poverty office, the Office of Financial Empowerment.
According to an announcement from the city's Department of Consumer Affairs, Cathie Mahon will work with the Department to protect the city's poor from predatory lending practices, launch public awareness campaigns, line up financial service providers to work in low-income neighborhoods and identify best asset building strategies.
"I am thrilled to have Cathie on board to help steer the important and exciting new work of the Office of Financial Empowerment," said Consumer Affairs Commissioner Jonathan Mintz. "Cathie has a clear passion and commitment to eliminating the barriers that get in the way of workers with low incomes advancing their economic position. Combining that perspective with a breathtaking depth of knowledge and experience in both the private and non-profit sectors makes her an ideal choice to advance OFE's goals."
Mahon directed the Asset Funders Network, a network of grant makers dedicated to helping individuals and families with low incomes build assets. She has worked as a private consultant for high-profile policy and research organizations such as the Aspen Institute in Washington, D.C., as well as grassroots community organizations in addition to the Federation.