Dear Readers,

The year 2008 has started quite ominously for some—there have been threats of recession, the fluctuation of the Dow Jones and NASDAQ, an escalating consumer credit crunch, higher cost of living, falling housing prices and people facing foreclosures nationwide. Couple this with an increase in the number of financial scams and frauds, and the cost of operating has become difficult for any hardworking American business. 

However, we look forward to some relief as the federal government works on various economic packages to help businesses through these hard times. At the DC Department of Insurance, Securities and Banking (DISB), we also see these challenging days as an opportunity for you to examine your broader financial picture. It may be time for you to look at the consumer protection measures you have in place to prevent fraud against you or your business; as well as to ensure you have an emergency reserve during unforeseen events.

DISB has joined other federal, state and local government agencies and national consumer advocacy organizations in launching the 10th annual National Consumer Protection Week, slated for March 2 to 8, which will highlight our consumer protection and education efforts. The theme for this year is Financial Literacy—A Sound Investment. During the week, DISB will release information to prevent some of the financial pitfalls experienced by small businesses. By providing a wide range of consumer-education information, DISB is giving you a line of defense to protect yourself, your business and your family.

In this issue of The Capital Connection, read about DISB’s meetings with Asian-American retailers, the launch of the website Insure U for Small Business en Español, some updates on captive insurance initiatives, a micro loan program that provides small denomination loans to small businesses, activities during National Consumer Protection Week and a whole lot more. As usual, we hope our content will keep you coming back for more.

Happy Reading!
Office of Communication and Public Affairs