1. National Release of the 2014 Assets & Opportunity Scorecard January 30, 2014

2. 12 years of using data to build the assets movement and drive policy change 2002 2005 2007 2009 2012 2013 2014

3. Kasey Wiedrich Senior Applied Research Program Manager, CFED Jennifer Brooks Director of State & Local Policy CFED Andrea Levere President, CFED Kristin Lawton Director of Communications CFED Today’s speakers

4. Housekeeping  All webinar attendees are muted to ensure sound quality  Webinar is being recorded and will be available online  Ask a question or make a comment at any time by typing it into text box of GoToWebinar Control Panel  Ask questions and send comments through Twitter using #CFEDScorecard Trouble dialing in? Just listen through your computer with speakers or headphones! Housekeeping

5. National findings from the 2014 Scorecard: How are families faring?

6. Economic Recession Unemployment Foreclosure Credit Card Debt Annual Unemployment Average Credit Card Debt Foreclosure Improvement on several indicators of economic recovery

7. Liquid Asset Poor lack savings to cover basic expenses for three months if job loss, a medical emergency, or other crisis leads to a loss of income Persistent financial insecurity $5,887 for a family of four

8. No slack: liquid asset poor borrow to cover unexpected costs High-cost loans are the only option for many with subprime credit scores, which can create a cycle of debt

9. Subprime credit is a barrier in most states More than 50% of consumers have subprime credit scores in 37 states and DC

10. Average College Graduate Debt Homeownership Rate Retirement Plan Participation Liquid asset poverty means deferring future financial security

11. Who are the liquid asset poor? One-quarter of middle income households do not have three months of savings U.S. Income Quintiles Households earning $56,113 to $91,356 25%

12. Of the 44% of households who are liquid asset poor… 89% are employed have at least some college 48% 59% are white

13. Of liquid asset poor households with children… 51% 49%

14. 2 in 3 households of color are liquid asset poor 4 in 5 of the poorest households are liquid asset poor Low-income and people of color disproportionately affected

16. The top 20% of earners have 55 times more wealth than the bottom 20%

17. Household median net worth ranges from $8,328 in Nevada to $153,554 in Virginia

20. In 21 states, less than 80% of high school students graduate within 4 years 59% of DC and 63% of Nevada high school students graduate within 4 years

21. Percentage of Uninsured by State

22. Have policymakers helped families become more financially secure?

23. The policy response Local, state and federal policy response

24. 2014 Scorecard policy assessment  States assessed on 67 policies  No longer distinguishing between “Policy Priorities” and “Additional Policies” New policy assessment in 2014 Scorecard More comprehensive and accurate description of strength of states’ policies

25. 67 Financial Security & Asset-Building Policies LEARNEARNSAVEINVESTPROTECT Early Education 1.Sufficient funding? 2.Quality standards? 3.State Head Start grant? 4.Full-day kindergarten? K-12 Education 5.Adequate spending? 6.Targeted spending? 7.Teacher evaluation and retention? 8.Financial education in schools? Postsecondary Education 9.WIA-funded training? 10.Adequate funding for public colleges? State Tax Credits 11.State EITC? 12.EITC Refundable? 13.EITC 15% of federal? 14.Child & Child and Dependent Care Tax Credit? Minimum Wage 15.Above federal? 16.Additional coverage? State Tax Fairness 17.Income tax? 18.Progressive tax rate? 19.Property tax relief? Tax Preparation Regulation 20.Regulate tax preparers? 21.Ban add-on fees? Unemployment Benefits 22.Adequate benefit? 23.Expanded eligibility? 24.Low-fee UI prepaid card? 25.Support for unemployed entrepreneurs? Paid Leave 26.Paid leave? 27.Expanded FMLA? Lifting Asset Limits 28.TANF asset test eliminated? 29.SNAP asset test eliminated? Mainstream Product Access 30.Statewide financial access program? Direct Deposit 31.Automatic direct deposit? Savings Programs 32.State funding for IDAs? 33.Prize-linked savings? College Savings Incentives 34.529 matching programs? 35.Partnerships with large systems? 36.Savings barriers minimized? Microenterprise Support 37.CDBG funding? 38.TANF/WIA funding? 39.Loans for beginning farmers? First-Time Homeownership 40.Downpayment assistance? 41.Direct lending? 42.Homeownership counseling? 43.Targeted mortgage credit certificates? 44.Housing trust fund? Manufactured Housing 45.Encourages resident ownership? 46.Titling reform? Postsecondary Education Financial Aid 47.Adequate funding? 48.Well-targeted? Tuition Support 49.In-state tuition for undocumented students? Predatory Short-Term Loans Protections 50.Payday? 51.Car-title? 52.Short-term installment loans? Predatory Debt Protections 53.Debt settlement protections? 54.Debt collection protections? For-Profit School Regulation 55.Tuition compensation? 56.Online regulation? Foreclosure Regulations 57.Third-party review? 58.Mortgage servicer regulation? 59.Post-foreclosure protections? 60.Redeveloping foreclosed properties? 61.Tenant foreclosure protections? Renter Protections 62.Section 8 renter discrimination protections? 63.Affordable rental housing preservation? Health Insurance 64.Medicaid expansion? 65.Limitations on hospital charges, billing and collections? 66.Simplified procedures for Medicaid and CHIP? 67.Expanded COBRA coverage?

26. Overall state policy adoption

27. } 8 states adopted half or more policies

28. Overall state policy adoption Most states adopted ¼ to ½ of policies

29. Overall state policy adoption 7 states adopted fewer than one-quarter of policies

30. Overall state policy adoption } 14 policies have been adopted by more than half of states

31. Overall state policy adoption 21 policies have been adopted by fewer than ¼ of states

32. Policy ranks and outcome ranks  Scorecard now ranks states on policies and outcomes  Allows comparison between strength of policies and outcomes for families

33. Policy ranks and outcome ranks  Scorecard now ranks states on policies and outcomes  Allows comparison between strength of policies and outcomes for families

34. Comparison of policy and outcome ranks

35. Even with strong policies, income inequality, high cost of living, demographic diversity make improving outcomes more difficult

36. Comparison of policy and outcome ranks Improving outcomes is easier in states with low cost of living, low income inequality, homogeneous populations and strong economies

37. Assets & Opportunity Network Lead Organizations www.assetsandopportunity.org/network Assets & Opportunity Network Lead Organizations

38. Ask a question or send a comment Via gotowebinar Via Twitter #CFEDscorecard

39. scorecard.cfed.org

41. Download a state profile

42. scorecard.cfed.org

43. Create custom charts and graphics

44. scorecard.cfed.org

45. Download Policy Briefs

46. scorecard.cfed.org

47. Reflections on the Scorecard from Andrea Levere, President, CFED (@alevere)

51. Assets & Opportunity Network Lead Organizations www.assetsandopportunity.org/network Assets & Opportunity Network Lead Organizations

52. Thank you to our Scorecard funders… A special thank you to our Scorecard funders…

53. National Release of the 2014 Assets & Opportunity Scorecard Thank you! January 30, 2014