E D I T O R I A L

Financial Fraud Affects Everyone But DISB Finds Ways to Fight It
Financial fraud has taken an extremely dire turn as more people are taken in by mortgage fraud schemes, investment schemes, identity theft, Ponzi schemes, and the like. DISB uses August 2009 as Financial Fraud Awareness Week.

State Regulation of Insurance Still Maintains its Integrity
There is a saying in Washington, “Never let a good crisis go to waste,” so it appears that this crisis is an opportune time to propose this change, especially as it relates to the regulation of the business of insurance.

Expert Non-Profit Mortgage and Housing Counseling is Free
Hearing promises that your home mortgage problems can be easily solved and your home can be saved from foreclosure can be sweet music to the ears of homeowners struggling to keep a roof over their heads. Stop the music. Beware of scam artists. Read more.
 

The Nuts and Bolts About State vs. Federal Regulation of Insurance
Although the insurance industry has not experienced the problems that befell major players in banking and securities, the economic turmoil in 2008 may have created the catalyst to bring the debate over insurance regulatory reform into clearer view.

DC Joins 12 States in Preventing Motor Vehicle Theft
Automobile theft is a persistent problem in the District of Columbia and DISB works with other associations to combat this crime.

Understanding the Credit Union Difference
Find out how easy it is to join a credit union.
 

N E W S   Y O U   C A N   U S E

DISB Creates Consumer Protection and Advocacy Task Force
In its continued efforts to protect District residents in the financial-services arena, DISB recently created a Consumer Protection and Advocacy Task Force to leverage the collective knowledge of the agency to continue providing targeted information to consumers.

Investor Education Seminar was a Success
DISB recently concluded its investor education seminar series. It plans to host another session in the spring.

President Obama’s Regulatory Reform Plan
President Barack Obama laid out a comprehensive regulatory reform plan to modernize and protect the integrity of the country’s financial system on June 17. Read more.

NAIC Praises Preservation of State Regulation Under Obama Administration’s Plan
NAIC commended the President for proposing a plan that helps improve stability and supervision of the financial sector, while preserving the role of states as regulators of insurance.

NASAA Releases Statement on Financial Regulatory Reform Proposals
President Obama’s plan has five key objectives that align closely with the five core principles for regulatory reform, released by NASAA in 2008 to strengthen and enhance the protection of the nation of investors, according to the organization.

CSBS Issues Statement on Financial Regulatory Reform Plan
The financial regulatory reform plan would make significant changes to the nation’s system of financial oversight, according to CSBS. But it is concerned with the notion that the proposed new Consumer Financial Protection Agency will be independent from prudential regulators. These two regulatory priorities are not in irreparable conflict with one another.

DISB Assists Residents with Benefits
DISB helps District residents with their claims. Find out how you may be able to file a complaint with DISB.

DISB in the Community DISB Cares Team. 
DISB Cares Team. The agency raises money for breast cancer.
DISB is at the Capital Pride Festival.
DC Saves Financial Fair: an event during Financial Literacy Month.

Upcoming Events
DISB continues to focus on consumer empowerment through information and education. Here is a brief listing of presentations and events in the coming months. Check the agency calendar at for updates. Especially noteworthy is the financial fraud seminars for seniors on August 4 and August 26.

Former DISB Staffer Recognized At Law Enforcement Ceremony
A former DISB Investigator was recognized by the US Attorney for efforts during a joint DISB-FBI-IRS investigation.

Going Green for Homeowners
If considering environmentally friendly updates to your property, DISB wants residents to understand how those modifications are covered under their homeowners insurance policies.

Nearly Half of US Servicemembers Confident About Retirement
A recent survey highlights the importance of giving military members educational tools to prepare for their retirements.

New Renters’ Rights in Foreclosure
The President recently signed a new law to protect renters whose landlords fall into foreclosure.

DISB Urges Residents to Report Elder Abuse
June 15 was World Elder Abuse Awareness Day. Financial abuse is considered to be the most common form of abuse to elders, costing its victims an estimated $2.6 billion a year. DISB urges residents to report any form of elder abuse—physical, financial, emotional, neglect or abandonment.

Extensive Background Information on Stockbrokers and Investment Advisers Offered
As an investor, you can request a public report of background information on any stockbroker, brokerage firm, investment adviser and investment adviser firm registered to do business in the District of Columbia. Just call DISB.

DISB Announces Multi-State Agreement with TBW Corporation
DISB in late June signed an agreement with Taylor, Bean & Whitaker Mortgage Corporation regarding its mortgage lending practices for nontraditional loans made in the District of Columbia.