Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.
Two Recent Policy Issues
• Home Mortgage Foreclosure
– Issue raised at state and local level (plus
national attention)
– S...
Policy Issues: Family Finance
• Foreclosure
–Rising rates
–Media attention
–Consumer stories
–Stakeholder interests
• Coun...
Policy Issues: Family Finance
• Payday Loans
–High cost loans
–Media attention
–Visible in community
–Assembly bills
–Othe...
Policy Issues: Family Finance
• Foreclosure Responses
–Moratorium
–Lender responsibility
–Mediation
• Payday Lending Regul...
Framing
• Foreclosure
– Avoid blame game
– Broad impacts on neighborhoods /
communities
• Payday Loans
– What service do t...
Exploring Alternatives
• Foreclosure
–Understand scope of issue
–Focus on underlying issues
–What services & programs are ...
Potential Actions / Consequences
• Foreclosure
– Moratorium – slow not stop; dampens credit
– Mediation – costly; slows pr...
Specialist Strategy
–Share data: understand scope
–Share models: what are other places
doing?
–Disseminate research (highl...
Challenges
• There is no middle road
– Consumer advocate vs. industry lackey
• Emotions run hot
• Media wants sound bites
...
Current Status of Issues
• Foreclosure
– WHPE being tested as educational strategy
– Data on trends distributed regularly
...
Scenario Today…
• People going through foreclosures have paper
work mistakes
– Some lenders used high volume legal provide...
Upcoming SlideShare
Loading in …5
×

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

639 views

Published on

Published in: Economy & Finance, Business
  • Be the first to comment

  • Be the first to like this

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

  1. 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. 2. Policy Issues: Family Finance • Foreclosure –Rising rates –Media attention –Consumer stories –Stakeholder interests • County judges • Local policymakers • Financial institutions
  3. 3. Policy Issues: Family Finance • Payday Loans –High cost loans –Media attention –Visible in community –Assembly bills –Other states take action
  4. 4. Policy Issues: Family Finance • Foreclosure Responses –Moratorium –Lender responsibility –Mediation • Payday Lending Regulations –Rate Cap –Regulation of practice
  5. 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. 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. 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. 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. 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. 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. 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?

×