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Why Public Policy Education is Extension's Long-Standing Approach for Working with Policymakers-2
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Why Public Policy Education is Extension's Long-Standing Approach for Working with Policymakers-2

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  • 1. Two Recent Policy Issues • Home Mortgage Foreclosure – Issue raised at state and local level (plus national attention) – State Assembly Bill – Developed WHPE: Wisconsin Homeownership Preservation Education • Payday Loan Regulation – Bill in Assembly in 2010 (and earlier…) – Issue raised at state events
  • 2. Policy Issues: Family Finance • Foreclosure –Rising rates –Media attention –Consumer stories –Stakeholder interests • County judges • Local policymakers • Financial institutions
  • 3. Policy Issues: Family Finance • Payday Loans –High cost loans –Media attention –Visible in community –Assembly bills –Other states take action
  • 4. Policy Issues: Family Finance • Foreclosure Responses –Moratorium –Lender responsibility –Mediation • Payday Lending Regulations –Rate Cap –Regulation of practice
  • 5. Framing • Foreclosure – Avoid blame game – Broad impacts on neighborhoods / communities • Payday Loans – What service do these firms provide that make them so popular? What alternatives exist and what do they cost?
  • 6. Exploring Alternatives • Foreclosure –Understand scope of issue –Focus on underlying issues –What services & programs are in place? • Turns out take up rates low… • Payday Lending –Understand scope of issue –Focus on underlying issues • Cost of late payments and NSF also very high
  • 7. Potential Actions / Consequences • Foreclosure – Moratorium – slow not stop; dampens credit – Mediation – costly; slows process – Counseling/Education – maybe too late – Awareness raising – every minute counts • Payday Loans – Rate caps – evidence at best mixed – Location restrictions – visibility
  • 8. Specialist Strategy –Share data: understand scope –Share models: what are other places doing? –Disseminate research (highlights) • Testimony at Hearings –Conduct research / evaluate models –Convene / facilitate – around fact-based evidence • Include industry, public-private partners
  • 9. Challenges • There is no middle road – Consumer advocate vs. industry lackey • Emotions run hot • Media wants sound bites • Stakeholders want simple message – including County Educators • Easy to be dismissed as ‘too academic’
  • 10. Current Status of Issues • Foreclosure – WHPE being tested as educational strategy – Data on trends distributed regularly – Mediation bill stalled out • Payday loans – Bill passed to regulate locations and loan size (not rate/fees) – Highlighting “small dollar loan alternatives” – Use of loans as teachable moment
  • 11. Scenario Today… • People going through foreclosures have paper work mistakes – Some lenders used high volume legal providers and not well executed forms • Courts may dismiss cases • Lenders voluntary moratoria • County policy responses: – A. Do nothing – B. Moratorium (no more cases until X date) – C. Mandate mediation – D. Something else?