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| District of Columbia - The Department of Insurance, Securities and Banking (DISB) |
The Department of Insurance, Securities and Banking (DISB) regulates financial service industries operating in and from the District of Columbia by administering District of Columbia insurance, securities, and banking laws, rules, and regulations. The Department's mission is to protect the interest of District of Columbia consumers from unfair and abusive practices and to provide a fair and equitable business arena for the regulated entitles operating in the District of Columbia.
Entities Regulated
DISB regulates the following entities:
- insurance companies,
- insurance producers,
- health maintenance organizations,
- captive insurance companies, and
- risk retention groups;
- securities businesses,
- investment advisors,
- investment representatives,
- brokers,
- dealers, and agents of issuers operating securities businesses; and
- banks,
- mortgage lenders and brokers,
- check cashers,
- money transmitters,
- consumer sales finance companies,
- money lenders and consumer credit service organizations.
Mission Statement
The DC Department of Insurance, Securities and Banking (DISB) has two missions: to provide fair, efficient, and fast regulatory supervision of insurance and securities businesses and banking and financial institutions for the protection of the citizens of the District of Columbia; and to create conditions that will retain and attract national and international financial services businesses to the District.
The Department of Insurance, Securities and Banking (DISB) is working to ensure a sound and thriving financial services community that provides the products, credit and capital that will enable District of Columbia residents to improve the quality of their lives. DISB provides a variety of services, including the licensing of the following categories of non-depository financial institutions: check cashers, consumer sales finance, money lenders (class-A), money transmitters, and mortgage lenders and brokers.
Use the attached link to access their website for current information on the DISB.
http://www.disb.dc.gov/disr/site/default.asp
Organization
The Department of Insurance, Securities and Banking (DISB) is comprised of seven offices and three Bureaus.
- Office of the Commissioner
- Office of the Deputy Commissioner
- Office of Legal Affairs
- Office of Public Information
- Office of the Controller
- Office of Administrative Services
- Office of Technology and Systems
- Fraud Bureau
- Insurance Bureau
- Securities Bureau
Contact and Location Information
Dept. of Insurance, Securities & Banking
Government of the District of Columbia
810 1st Street NE
Suite 701
Washington, DC 20002
By Web Email: disb@dc.gov
Office Hours: 8:15 am to 4:45 pm, Monday through Friday, except District holidays
By Phone Main: (202) 727-8000
Fax: (202) 535-1196
Complaints
The Department of Insurance, Securities and Banking (DISB) regulates financial institutions and activities within the District of Columbia to protect consumers from unfair practices, promote economic development, and provide a fair financial market that benefits DC consumers and businesses.
Use the following link to access their website and to understand the process for filing a complaint.
http://dbfi.dc.gov/dbfi/cwp/view,a,3,q,609528,dbfiNav,|31299|.asp
Mortgage Lender and/or Broker Licensing
The Department of Banking and Financial Institutions' Safety and Soundness - Non-Depository Division protects consumers from unfair practices through licensing, examination, and investigation of non-depository financial institutions (i.e. Mortgage Broker and/or Lender) in the District of Columbia. The division also establishes an equitable business operating arena for all non-depository financial institutions. For more information, please contact the Non-Depository Examining Officer at (202) 727-1563.
Use the link below to access their website and to find information on...
- Annual Report Requirements
- Application for Mortgage Lender and/or Broker License - Initial
- Application for Mortgage Lender and/or Broker License - Renewal
- License Verification/Status Information
http://dbfi.dc.gov/dbfi/cwp/view,a,3,q,519172,dbfiNav,|31292|.asp
Identity Theft
When it comes to identity theft, the old adage applies, an ounce of prevention is worth a pound of cure. The following are useful tips and information for consumers to avoid identity theft:
- Be careful about giving out your personal information. Don’t give out any personal information over the phone unless you initiate the call;
- Pay attention to your billing cycles. If you don’t get your bills in the mail, be suspicious;
- Be cautious about where you leave your information. Think of your bills as cash, don’t leave them lying around;
- Guard your mail from theft. Be vigilant about checking your mail promptly after it has been delivered. Don’t let it pile up while you are away;
- Watch what you throw away. What may be garbage to you can be stolen treasure to an identity thief;
- Travel light. Don’t carry more checks or credit cards than you need. That will minimize the damage if your wallet is lost or stolen; and
- Check your credit report on a regular basis. Order a copy of your credit report from the three major credit reporting agencies at least once a year and make sure that the information they have is correct.
- The agencies are:
- Experian 1-800-397-3742
- Equifax 1-800-525-6285
- Trans Union 1-800-680-7289
If a consumer is a victim of Identity theft, he/she should:
- Contact creditors by phone and by certified mail;
- Stop payment on checks and close bank accounts;
- Contact the Department of Motor Vehicles and your local postal inspector;
- File a report with your local police department; and
- Call the FTC’s fraud hotline at 1-877-IDTHEFT.
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