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Financial Literacy and Consumer Protection Symposium - WI

Consumer Action educates case managers and community organizations from Dane County.

More than 70 case managers, social service providers and representatives from community organizations gathered in Madison, WI, on May 15th to participate in the first Financial Literacy and Consumer Protection Symposium. The symposium was a collaborative effort of Consumer Action, the Financial Education Center, United Way of Dane County and the Wisconsin Department of Agriculture, Trade and Consumer Protection (DATCP).

The symposium was designed to provide agencies with the tools and information they need to help their clients manage their money effectively, build and rebuild their credit, recognize the most common scams, and avoid loosing their homes to foreclosure.

Wisconsin First Lady Jessica Doyle, Honorary Chair of the Governor’s Council on Financial Literacy, welcomed participants and discussed the importance of financial literacy and the key role of community organizations in educating and informing their clients.

David Mancl, director of the Office of Financial Literacy at the Wisconsin Department of Financial Institutions and recently appointed to President Bush’s Advisory Council on Financial Literacy, discussed the Council’s efforts to improve knowledge of basic financial services and money management skills, particularly among young people. Mancl called for the audience to be part of the larger movement of committed individuals across the country that are helping consumers take charge of their finances.

The symposium also featured a Consumer Protection panel moderated by Mayra Rangel of the DATCP. The panel included senior staff from the Bureau of Consumer Protection, the Insurance Commission, the Public Service Commission and the Department of Financial Institutions. Each of the panelists gave an overview of their agency and complaint-handling process, top complaints from consumers, tips for community agencies and answered questions.

Consumer Action’s Sol Carbonell provided participants with tools and information on money management, building and rebuilding good credit, and foreclosure prevention strategies. She also discussed the Wisconsin Saves Initiative, a social marketing campaign aimed at reaching organizations and individuals to increase awareness about the need to save money, reduce debt and build wealth.

Other sessions included information on identity theft, facilitated by Deb Neubauer from the Financial Education Center and Jackie Gehin, Youth Educator for UW Extension. Participants learned how to protect their personal information, and listened to the testimony of Gehin, who is a victim of ID Theft.

Two sessions also addressed empowering teens and protecting seniors from financial schemes. Working in groups, participants devised outreach strategies to disseminate information that would alert seniors of swindlers. The central idea was teaching seniors how to “Stop - Call - Confirm” before giving away their money or compromising their personal information.

All symposium attendees received a complete packet with MoneyWi$e brochures, local resources and a series of brochures from each of the partners. Pictures of the event can be seen at Consumer Action's Photo Callery.