The last two years in the financial-services industry have been considerably tumultuous, according to many economists and political observers. With the slowdown in the economy, the failures of large financial institutions in 2008, and the increase in the numbers of home foreclosures in the DC area, DISB has used the opportunity to strengthen its resolve to continue as a consumer protection agency.
In this climate of economic uncertainty, DISB continues to strike a balance between effective and efficient regulation of the financial-services industries, while focusing on providing consumer protection, advocacy and education. And under the agency’s new leadership, headed by Commissioner Gennet Purcell, residents should look forward to our continued work in protecting consumers from financial fraud and abuse, as well as making sure that the best financial services are accessible and available to all District families in all wards. DISB is using 2010 and beyond to revamp its efforts in its consumer education and financial literacy outreach as well. So, look out for a DISB event at a site near you. Continue visiting the website for updates.
In this month’s newsletters, in keeping within the vein of education and advocacy, read more on Bank On DC, an initiative to be launched this spring that will provide bank accounts for the District’s unbanked and underbanked populations. The District is home to more than 37,000 underbanked and 72,000 underbanked households, which use alternative financial services. Also, read on how you can protect your American dream, how to bargain for what you want, about a new AARP survey that shows members are concerned about financial scams affecting them, and how DISB assists residents with everyday problems and issues.
We hope that you will find something in our newsletters that keeps you coming back for more.
Office of Communications
Remember, DISB protects your financial interests. Call us to report fraud, to verify a financial institution, a speaker or consumer information at (202) 727-8000.