FINANCIAL
RESOURCE GUIDE
Dear Washingtonian,
The Department of Insurance, Securities and Banking (DISB) is pleased to
provide you with our Financial Resource Guide.
Part of the Department’s mission is to educate and empower residents
and protect them from scams and nancial abuse. In support of Mayor
Muriel Bowser’s eorts to set residents on pathways to the middle class, the
Department is working to make the lives of District residents more nancially
sound and secure.
Through its annual education forums, consumer guides and Money Smart
workshops, the Department oers District residents fraud prevention and lifelong
nancial education opportunities.
As the nancial services regulator for the District of Columbia, the Department
protects consumers and stimulates business development in the District.
Programs like DC BizCAP, Financially Fit DC and Student Loan Ombudsman
services highlight the ways we are fostering small business, promoting nancial
education and helping residents take control of their nancial lives.
We want to be of service. Please contact us if we can help answer your questions
or provide additional resources!
Sincerely,
Karima M. Woods
Commissioner
BANKING AND PERSONAL FINANCE 5
Opening a checking or savings account 5
Personal finance programs 5
Credit building 6
HOUSING 6
Foreclosure prevention 6
Buying a home 7
Home purchase programs 7
Housing counselors 7
Renter and tenant programs 8
Landlord requirements 8
STUDENT LOANS 9
AUTO INSURANCE 9
HEALTH INSURANCE 10
Health insurance plans 10
Health insurance rates 10
Continuation of health coverage 10
Public or government-sponsored health insurance programs 11
HOME INSURANCE 11
Home insurance plans 11
Renter’s insurance 11
Flood insurance 12
LIFE INSURANCE 13
Find missing policies 13
Annuities 13
OTHER INSURANCE 13
Title insurance 13
Long-term care and disability insurance 13
Worker’s Compensation 14
Enforcement actions 14
SECURITIES AND INVESTING 14
SMALL BUSINESS RESOURCES 16
BUSINESS INSURANCE 16
Health insurance plans 16
Access to capital 16
Doing business with the government 17
Other resources 17
ENERGY ASSISTANCE PROGRAMS 19
SAVING AND INVESTMENT PROGRAMS 20
FINANCIAL SCAMS 21
FILE A COMPLAINT, REPORT FRAUD AND OTHER ISSUES 23
FEDERAL GOVERNMENT RESOURCES 24
COVID-19 RESOURCES 27
TABLE OF
CONTENTS
5
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
BANKING AND PERSONAL FINANCE
PERSONAL FINANCE RESOURCES
Where do I go to open a checking or savings account, get a loan and identify other financial services?
DISB provides lists of banks and federal credit unions operating in the District on its website.
Web: disb.dc.gov/banksinDC or disb.dc.gov/federalcreditunionsinDC
Are there bank accounts available for low or no fees in the District?
DISB’s Bank on DC Program provides access to nancial services and products including no-fee or low-fee
accounts to the unbanked and under-banked households in the District.
Organization: Department of Insurance, Securities and Banking (DISB)
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Web: bankondc.org
Where do I go for free financial services for military, veterans and their families?
VALOR (VeteransAssistance forLearning,Opportunity, andReadiness) for Bank on DC provides free nancial
education classes, online tools and resources for active service members, veterans and their families.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Web: bankondc.org
Looking to get out of debt? Buy a home? Build an emergency fund?
Financially Fit DC is a nancial education program with an online component that helps residents improve their
nancial capability and set nancial goals. The program has ve core components: Making a Budget, Managing
Credit, Buying a Home, Planning for Retirement and Building Wealth.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Web: nanciallytdc.com
Is there a program to help me save money to reach my financial goals?
DC Opportunity Accounts, a 4:1 matched savings program, helps qualied District residents save up to $7,500.
Qualied residents make regular deposits of up to $1,500 in a savings account to meet their goals. When
the savings goal is reached, the funds in the account will be matched 4:1 by the Department and private
funders. The funds can be used to help pay for a variety of expenses, including education, rst-time home
purchases, medical emergencies, small business development and retirement. The Department supports theDC
Opportunity Accounts Programthrough a contract with Capital Area Asset Builders.
Organization: Capital Area Asset Builders
1100 H Street NW, Suite 200, Washington, DC 20005
Phone: 202-419-1440
Email:
Web:
www.caab.org
Where can I get a free personal financial assessment?
Life Cents is a free, online personal nancial wellness program designed to help you evaluate your nances and
improve your nancial health. The program promotes nancial stability through nancial education, access to
local resources and other tools.
Web: bankondc.org
6
FINANCIAL
RESOURCE GUIDE
CREDIT BUILDING
How can I get a free copy of my credit report?
Federal law entitles you to one free credit report annually from each of the three national credit reporting
companies: Equifax, Experian and TransUnion.
AnnualCreditReport.com is the only authorized source for the free
credit report.
Phone: 877-322-8228
Web: annualcreditreport.com
HOUSING
FORECLOSURE PREVENTION RESOURCES
I am behind on my mortgage. Where can I go for help?
The District’s Foreclosure Prevention Hotline can be reached for foreclosure and housing-related resources.
Phone: 202-265-CALL (2255) or 855-449-CALL
Web: disb.dc.gov/foreclosurehotline
Are there any alternatives to foreclosure?
The District’s Foreclosure Mediation Program is where homeowners and lenders meet face-to-face to discuss
alternatives to foreclosure.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: DISB.mediation@dc.gov
Web: disb.dc.gov/foreclosuremediationprogram
Housing Counseling Services, Inc. provides comprehensive housing counseling, training, advocacy, technical
assistance and housing opportunities for low- and moderate-income home buyers, home owners and tenants.
Organization: Housing Counseling Services, Inc.
2410 17th Street NW, Suite 100, Washington, DC 20009
Phone: 202-265-2255
Email:
info@housingetc.org
Web:
housingetc.org
Is there a program that will lower my monthly mortgage payments?
The federal Making Home Aordable program oers options for lowering monthly mortgage payments,
transitioning out of your home without foreclosure and mortgages for the unemployed.
Phone: 888-995-HOPE (4673); 877-304-9709 TTY
Web: makinghomeaordable.gov
7
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
BUYING A HOME
Where do I go to get a mortgage?
Most banks and federal credit unions in the District oer mortgage loans. DISB provides lists of banks and
federal credit unions operating in the District on its website.
Web: disb.dc.gov/banksinDC or disb.dc.gov/federalcreditunionsinDC
How much mortgage can I afford?
The mortgage calculator provided by the DC Housing Finance Agency helps you estimate how much mortgage
you can aord.
Organization: DC Housing Finance Agency
Address: 815 Florida Avenue NW, Washington, DC 20001
Phone: 202-777-1600
Web: dchfa.org
How do I find a licensed mortgage lender and broker?
Residents can access a database of mortgage lenders and brokers licensed by DISB for free through the public
access portal of the Nationwide Mortgage Licensing System.
Web: nmlsconsumeraccess.org
HOME PURCHASE ASSISTANCE PROGRAMS
Are there any home purchase assistance programs?
The Home Purchase Assistance Program, Employer Assisted Housing Program and Negotiated Employee
Aordable Home Purchase Program provide nancial assistance for low- and moderate-income households and
District Government employees for the purpose of rst-time home purchase.
Organization: Department of Housing and Community Development
1800 Martin Luther King Jr. Avenue SE, Washington, DC 20020
Phone: 202-442-7200
Web: dhcd.dc.gov
Are there any home down payment assistance programs?
DC Open Doors oers a number of mortgage products including down payment assistance loans, Federal
Housing Administration loans and Fannie Mae conventional mortgage loan products.
Organization: DC Housing Finance Agency
815 Florida Avenue NW, Washington, DC 20001
Phone: 202-777-1600
Web: dchfa.org/homeownership
How do I find a housing or credit counselor?
The federal government sponsors housing counseling agencies throughout the country to provide free or low
cost advice on buying a home, renting, defaults, foreclosure avoidance, credit issues, reverse mortgages and
other housing issues.
Organization: U.S. Department of Housing and Urban Development
451 7th Street SW, Washington, DC 20410
Phone: 800-569-4287
Web: entp.hud.gov/idapp/html/hecm_agency_look.cfm
8
FINANCIAL
RESOURCE GUIDE
How do I find housing for rent or sale in the District?
DCHousingSearch.org is a free online housing locater provided by the DC Department of Housing and
Community Development. It includes listings for rentals, properties for sale and Section 8 options.
Phone: 877-428-8844
Web: dchousingsearch.org
How do I find financial assistance for displaced tenants?
DC Oce of the Tenant Advocate provides assistance with emergency housing and relocation expenses for
tenants who are displaced by res, oods or government closures. The oce also helps resolve tenant and
landlord disputes.
Organization: Oce of the Tenant Advocate
2000 14th Street NW, Suite 300 North, Washington, DC 20009
Phone: 202-719-6560
Web: ota.dc.gov
I am thinking of bringing in a boarder, renter or Airbnb guest into my home or property. Are there any landlord
requirements?
The District requires a basic business license including a certicate of occupancy from the DC Department of
Consumer and Regulatory Aairs (DCRA) before oering a dwelling or rooming unit in a residential building.
Applications must be submitted in person at DCRA’s Permit Center located at 1100 4th Street SW, second oor.
Additional information on rental housing can be found on the Oce of the Tenant Advocate’s website:
ota.dc.gov.
Phone: 202-442-4400
Web: dcra.dc.gov
9
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
STUDENT LOANS
Worried about defaulting on your student loans?
DISB licenses student loan servicers who service non-federal student loans in the District of Columbia. If
you have concerns regarding student loans, you can reach out to the District of Columbia Student Loan
Ombudsman. The Ombudsman is an unbiased and condential resource who assists residents with issues
related to student loans. The Ombudsman evaluates the concerns of both District borrowers and student loan
servicers to promote collaborative solutions.
The Ombudsman cannot represent borrowers or make decisions about specic loan forgiveness or repayment
plans. The Ombudsman can provide information and guidance on many issues related to student debt including
student loan repayment programs, complaints with student loan servicers, student loan consolidation and the
Public Service Loan Forgiveness program.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: DCL[email protected]v
Web: disb.dc.gov/studentloanhelp
AUTO INSURANCE
How can I compare costs for auto insurance?
DISB provides sample proles of auto insurance rates oered in the District.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Email: disb@dc.gov
Web: disb.dc.gov/autoinsrates
Is there a program for pedestrians or passengers injured by an uninsured driver?
The DC Uninsured Motorist Fund is for eligible pedestrians or passengers injured by an uninsured driver, who
has no identiable source of recovery, that provides benets specied by District of Columbia law.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Email: Insconsumerservices@dc.gov
Web: disb.dc.gov/DCuninsuredmotoristfund
Do I need to have vehicle insurance?
The District of Columbia’s Compulsory/No-Fault Motor Vehicle Insurance Act requires valid vehicle insurance for
every person applying for registration or a reciprocity sticker in the District. The insurance must be maintained
as long as the vehicle is registered in the District. Lapses in coverage are subject to nes. Do not cancel
insurance until vehicle tags are surrendered to DC’s Department of Motor Vehicles.
Organization: DC Department of Motor Vehicles
Phone: 202-737-4404
Web: dmv.dc.gov/service/vehicle-insurance
10
FINANCIAL
RESOURCE GUIDE
What do I do if I am in a car accident?
Getting into an accident can be stressful and chaotic; it is dicult to remember what to do immediately
following a wreck. Many people are unsure about what information they need to share with, and collect from,
the other driver. It would be helpful if you provide your name and insurance information. Divulging more than
that, such as your address or driver’s license number, could put you at risk for identity theft. DISB, through the
National Association of Insurance Commissioners, provides WRECKCHECK. This free smartphone app walks
you through the process of collecting information when you are in a car accident and allows you to email the
report directly to your insurance agent. The app is available oniOSand Android devices, and in a
PDF version.
Web: disb.dc.gov/leautoclaim
HEALTH INSURANCE RESOURCES
I do not have employer-sponsored health insurance. Where can I go to buy it?
DC Health Link is the online marketplace created for District residents, including lawfully present immigrants,
families, small business owners and their employees to shop, compare and select health insurance that meets
their health needs and budgets.
Phone: 855-532-5465
Web: dchealthlink.com
I have a question about a proposed change in my health insurance rate. Who can I talk to?
You can provide feedback to DISB on proposed changes to health insurance rates and plans including those
oered on DC Health Link. DISB can research your rate to determine if it complies with District of Columbia law.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Web: disb.dc.gov/healthinsratereview
I lost my job and no longer have health insurance. Are there any programs to help me?
You can purchase individual health insurance through the DC Health Link. Also, the federal Consolidated
Omnibus Budget Reconciliation Act, known as COBRA, gives workers and their families who lose their group
health benets the right to continue health benets provided by their health plan for limited time under certain
conditions (e.g., voluntary or involuntary job loss, reduction in work hours, death, divorce and more.)
Organization: DC Health Link
Phone: 855-532-5465
Web: dchealthlink.com
Organization: U.S. Department of Labor
200 Constitution Avenue NW, Washington, DC 20210
Phone: 866-872-365; 877-889-5627 TTY
Web: dol.gov/general/topic/health-plans/cobra
11
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
PUBLIC OR GOVERNMENT-SPONSORED HEALTH INSURANCE PROGRAMS
Are there programs that provide free health insurance?
DC Healthy Families is a program of the DC Department of Health Care Finance that provides free health
insurance for eligible District residents and their children.
Organization: DC Healthy Families Enrollment Oce (multiple locations)
Phone: 202-639-4041; 202-639-4041 TTY
Web: dhcf.dc.gov/service/dc-healthy-families
The DC Healthcare Alliance oers a range of health care services for eligible District residents.
Organization: Income Maintenance Administration Service Center
Phone: 202-727-5355
Web: dhcf.dc.gov/service/health-care-alliance
Is there assistance for medical services if I am disabled?
If you are disabled and need medical services, you may qualify for DC Medicaid. It is a health care program that
can help pay for medical services for low-income and disabled people.
Organization: Income Maintenance Administration Service Center
Phone: 202-727-5355
Web: dhcf.dc.gov/service/medicaid
HOME INSURANCE
How can I compare costs for homeowner and renter’s insurance?
DISB provides sample proles of personal property insurance rates and a list of licensed insurance companies
on its website.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Email: disb@dc.gov
Web: disb.dc.gov/homeinsrates
Do I need renter’s insurance?
If you are a renter, your personal property is not covered under your landlord’s insurance in the event of a re,
theft or other unexpected incident. Therefore, you may want to purchase renter’s insurance. You can view a list
of licensed insurance companies in the District on DISB’s website and compare renter’s insurance rates.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Email: disb@dc.gov
Web: disb.dc.gov/renterinsurance
I paid off my mortgage. Do I need homeowners insurance?
Yes, if you have a mortgage on your home, then the bank or other nancial institution holding your mortgage
requires you to maintain insurance coverage. Homeowners’ insurance protects their nancial interest in your
home from loss or damage caused by a covered peril like re or wind damage. It is important that you continue
homeowners’ insurance coverage on your home after your mortgage is repaid to make certain that your house
and your personal belongings are covered, and you have liability protection.
Web: disb.dc.gov/page/it-important-maintain-your-homeowners-insurance
12
FINANCIAL
RESOURCE GUIDE
I am thinking about getting a reverse mortgage. What facts should I consider before getting one?
A reverse mortgage is a loan that lets homeowners 62 and older borrow against the equity in their homes.
Reverse mortgages can help seniors stay in their homes while receiving income in retirement. The lender pays
you a lump sum, a monthly advance, a line of credit or a combination. The amount you can borrow is based
generally on your age, the equity in your home and the interest rate the lender is charging. You can use the loan
for any purpose. The lender adds interest charges to the loan that accrue each month, so the amount you owe
increases over time as the interest compounds. Some reverse mortgages have xed interest rates; others are
adjustable. Reverse mortgages use up some or all of the equity in your home, leaving fewer assets for you and
your heirs. For more information on how reverse mortgages work, visit DISB’s website.
Web: disb.dc.gov
Do I need flood insurance? Where do I buy it?
The National Flood Insurance Program oers ood insurance that can be purchased through property and
casualty insurance agents. Flood insurance protects either your building or belongings in the case of ood.
Standard homeowner insurance does not cover damages from oods. You can evaluate your need for ood
insurance and review more information by visiting the websites of DISB and the DC Department of Energy and
the Environment (DOEE).
Web: disb.dc.gov/ood or doee.dc.gov/service/ood-insurance-and-coverage
I just moved into my new neighborhood. How do I know if my neighborhood is prone to flooding?
The Federal Emergency Management Agency Flood Map Service Center (MSC) is the ocial public source
for ood hazard information produced in support of the National Flood Insurance Program (NFIP). Enter your
address into the MSC online tool to nd the ocial ood map for your location.
Web: msc.fema.gov/portal/home
If my frozen pipes burst, am I covered by insurance?
Most homeowner and commercial property insurance policies, in general, will cover damage from a frozen
pipe that bursts. Coverage usually exists if the policy contains the following or similar language: Coverage
is provided when it is determined that damage resulted from a “sudden and accidental” discharge from a
plumbing source or system (please check your policy for the exact language). There are, however, exceptions;
your insurance policy may not cover the loss if it appears you neglected to take the proper steps to safeguard
your property, or if your property is deemed vacant.
Web: disb.dc.gov/page/if-my-frozen-pipes-burst-am-i-covered-insurance
What is the difference between renter’s insurance for an apartment and insurance for a condominium?
A major dierence between owning a condominium and renting an apartment is that condominium owners own
the interior walls and oor of the unit so if they are damaged, the individual unit owner is responsible for the
repairs. Another dierence is that some condominium associations have the authority to assess individual unit
owners for certain damage to the building. Unlike an apartment where the landlord is responsible for repairs
to the walls and oors, a condominium owner bears the loss if the walls and oors are damaged. Condominium
policies cover damage to the interior walls and oors of the unit, personal items and liability coverage.
Web: disb.dc.gov/page/faq-condominium-insurance
How do I create a home inventory?
DISB, through the National Association of Insurance Commissioners (NAIC), provides a free smartphone app
to help residents create a complete inventory of their belongings for insurance purposes. The app is available
for iPhones and Androids. If you do not own a smartphone, you can check out the simple-to-use, downloadable
home inventory checklist.
Web: insureuonline.org/home_inventory_checklist.pdf
13
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
LIFE INSURANCE RESOURCES
How do I check the licensing status of my insurance agent?
Check out DISB’s databases of licensed insurance agents and companies.
Web: disb.dc.gov/licensestatus
How do I locate a life insurance policy of a deceased relative?
DISB, through the NAIC, oers a life insurance policy locator that provides consumers with search capabilities
to help nd a deceased person’s lost life insurance policies and annuities. For more information on locating
missing life insurance policies, visit disb.dc.gov/node/920162.
Web: eapps.naic.org/life-policy-locator/#/welcome
How do I know if an annuity is right for me?
An annuity is a contract in which an insurance company agrees to make a series of payments or lump sum
payment in return for a premium (or premiums) that you have paid. Many consumers buy annuities so that they
will have a regular income after they retire. DISB provides a consumer guide on understanding annuities.
Web: disb.dc.gov/node/813372
OTHER INSURANCE RESOURCES
How do I compare title insurance rates?
Title insurance policies protect the home buyer against losses and legal fees that arise from unknown defects in
the title to the property during the purchase of the property. DISB provides sample title insurance rates on its
website.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Email: disb@dc.gov
Web: disb.dc.gov/titleinsrates
How do I know if I need long-term care insurance?
The District’s Long-Term Care Planning Guide will help you determine if long-term care insurance is needed, the
costs, options and more.
Organization: DC Aging & Disability Resource Center
500 K Street NE, Washington, DC 20002
Phone: 202-724-5626; 202-724-8925 TTY
Web: dcoa.dc.gov/node/553362
I want to buy non-medical health insurance products (e.g., disability, long-term care, vision, dental, etc.).
How do I find an insurer?
DISB provides a list of licensed insurance carriers that sell non-medical health insurance plans in the District on
its website.
Web: disb.dc.gov/non-medicalhealthins
14
FINANCIAL
RESOURCE GUIDE
I was injured on the job. Where do I go for medical coverage?
The DC Department of Employment Services administers the local Workers’ Compensation Program, processes
claims, and monitors the payment of benets to injured private-sector District employees. Disputes between
claimants and employers (or their insurance carriers) are mediated and employers are monitored to ensure
compliance with insurance coverage requirements.
Organization: DC Department of Employment Services
Labor Standards Bureau, Oce of Workers’ Compensation
4058 Minnesota AvenueNE, 3rd Floor, Washington, DC 20019
Web: does.dc.gov/page/workers-compensation-does
SECURITIES AND INVESTING
I have heard about a great investment opportunity. How can I research it?
Investment oerings in the District are required to be registered with DISB and/or the U.S. Securities and
Exchange Commission (SEC). You can check the status of an investment opportunity in the District by
contacting DISB.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: disb@dc.gov
Web:
disb.dc.gov
How can I tell if a securities firm or a particular individual in a securities firm has a DC license?
DISB licenses securities professionals such as broker-dealers and investment advisers and the rms they work
for. Broker-dealers and investment advisers include nancial planners, investment traders and mutual fund and
hedge fund managers. Contact DISB to see if the person or rm has a license.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: disb@dc.gov
Web: disb.dc.gov
Can I find out if the securities firm or individual has been the subject of any complaints or disciplinary action?
Yes. You can get any disciplinary history that involves a particular rm or individual by contacting DISB.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: disb@dc.gov
Web: disb.dc.gov
15
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
How do I find a lost financial asset?
Unclaimed property or nancial assets (e.g., paid-up life insurance policies, death benets, certicates of
deposit, stocks, savings and checking accounts) that are considered lost or abandoned by the owner are turned
over to the unclaimed property unit of the DC Oce of Finance and Treasury. Owners and legitimate heirs can
claim funds at any time.
Organization: DC Oce of Finance and Treasury’s Unclaimed Property Unit
1350 Pennsylvania Avenue NW, Suite 203, Washington, DC 20004
Phone: 202-442-8181
Web: cfo.dc.gov/service/unclaimed-property
Are there tools to help with my investment planning?
The U.S. Securities Exchange Commission (SEC) provides calculators to help you with your investment accounts.
Below is a list of calculators.
• Compound Interest Calculator— A calculator to estimate how your money can grow.
investor.gov/tools/calculators/compound-interest-calculator#.Ux_bbMKYbIU
• 401(k) and IRA Required Minimum Distribution Calculator— A calculator to approximate your
required minimum distribution based on your age and the value of your 401(k) and IRA accounts.
Web: investor.gov/additional-resources/free-nancial-planning-tools/required-minimum-
distribution-calculator
How do I calculate my retirement benefit?
The U.S. Social Security Administration’s Retirement Estimator is a calculator that gives you an estimate of your
retirement benet based on your actual Social Security earnings record.
Web: ssa.gov/estimator
16
FINANCIAL
RESOURCE GUIDE
SMALL BUSINESS RESOURCES
DISB provides and participates in programs and resources to assist small business owners in creating
sustainable economic development.
INSURANCE
Is there a bundle of plans for business insurance?
A business owner’s policy (BOP) includes property insurance, business interruption and liability insurance,
but not professional liability. Looking for more information on BOPs, commercial auto, home-based and other
business insurance resources? Visit DISB’s website.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Web: disb.dc.gov/smallbusinfo
Where do I buy health insurance for my small business?
DC Health Link is an online marketplace created for individuals, families and small business owners with less
than 50 employees to compare and select health insurance that meets their health needs and budgets. If you
have more than 50 employees, DISB provides a list of appropriate health insurance carriers on its website.
Organization: DC Health Link
Phone: 855-532-5465
Web: dchealthlink.com
Web: disb.dc.gov/healthinsproducts
ACCESS TO CAPITAL
The District of Columbia Business Capital Access Program (DC BizCAP) is funded by the U.S. Treasury State
Small Business Credit Initiative. The initiative, a $1.5 billion fund, was established by the Small Business Jobs Act
of 2010 to assist small businesses and entrepreneurs who were adversely aected by the economic recession of
2008 and the credit crisis that followed. The District was allocated $13.2 million to support District businesses.
DISB established and administers DC BizCAP to provide capital to District small businesses and entrepreneurs
who continue to encounter reductions in the availability of credit and heightened requirements to obtain
nancing. DC BizCAP provides critical capital through three programs that provide alternatives to traditional
commercial nancing to facilitate private lending and investments in District small businesses.
Is there a program that provides collateral support to small businesses?
The DC BizCAP Collateral Support Program (CSP) provides collateral support for small business borrowers
who might be qualied for loans but are unable to meet the lender’s security requirements. Qualied small
businesses use the loans to buy equipment and inventory; for expansions or renovations; working capital; start-
up costs; leasehold improvements; or renancing.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: disb@dc.gov
Web: disb.dc.gov/node/391732
17
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
Is there a program that provides loan support for small businesses?
The DC BizCAP Loan Participation Program (LPP) provides loan support for small businesses that may
qualify for loans but are unable to meet capital requirements or the debt service coverage ratio of the lending
institution. Under this program, the District buys a portion of a loan originated by a lender to bolster capital on
the borrower’s balance sheet and reduce its debt service. The District’s maximum purchase of the commercial
loan cannot exceed 50 percent of the loan up to $1 million. A list of participating lenders, loan enrollment
procedures and borrower eligibility requests are available on DISB’s website.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: disb@dc.gov
Web: disb.dc.gov/node/1019992
Is there a program that makes equity investments in small businesses?
The DC BizCAP Innovation Finance Program (IFP) provides capital for investment in District of Columbia
start-ups and emerging companies that seek nancing alternatives to traditional commercial nancing. The
IFP provides the capital either (1) through a co-investment with an innovation nance company into the small
business; or (2) by investing as a limited partner in an innovation nance company that shall then make an
investment into that small business.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: disb@dc.gov
Web: disb.dc.gov/node/1020002
Is there a program that provides start-up capital for small businesses?
The DC Certied Business Enterprise Revolving Micro Loan Fund program provides start-up capital to small
businesses that do not have enough capital to grow in their early stage of development. The maximum loan
amount is $25,000.
Organization: Department of Small and Local Business Development
441 4th Street NW, Suite 850 North, Washington, DC 20001
Phone: 202-727-3900
Web: dslbd.dc.gov/publication/microloan-program-application
How do I bid on contracts?
The Government of the District of Columbia oers a variety of programs to help businesses bid on and acquire
contracts. The portal below provides access to business services, applications and resources.
Web: dmped.dc.gov/page/do-business-dc-government or dslbd.dc.gov/getcertied
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FINANCIAL
RESOURCE GUIDE
OTHER SMALL BUSINESS RESOURCES
Where do I go for small business resources including how to create a business plan?
The DC Small Business Resource Center is a one-stop shop for entrepreneurs and small businesses looking to
start and grow their companies in the District. Services include training, workshops and seminars, counseling,
one-on-one technical assistance and computer software.
Small Business Resource Center locations:
Organization: Department of Small and Local Business Development
441 4th Street NW, Washington, DC 20001
Phone: 202-727-3900
Web: dslbd.dc.gov
Organization: Department of Consumer and Regulatory Aairs
1100 4th Street SW, Washington, DC 20024
Phone: 202-442-4400
Web: dcbiz.ecenterdedirect.com
Are there grants available to make improvements to small businesses?
The Oce of the Deputy Mayor for Planning and Economic Development (DMPED) invests in small business
development via the Great Streets Small Business Retail Grants, which are competitive grants up to $50,000
for qualied small business owners who wish to improve their place of business.
Organization: DMPED
1350 Pennsylvania Avenue NW, Suite 317, Washington, DC 20004
Phone: 202-741-7620
Email:
great.streets@dc.gov
Web: greatstreets.dc.gov
Are there grants available for non-residential real estate projects?
DMPED will fund projects to ll the gaps in non-residential components of a mixed used project, real estate, or
retail development project in targeted census tracts where unemployment is 10 percent or greater.
Organization: DMPED Neighborhood Prosperity Fund
1350 Pennsylvania Avenue NW, Suite 317, Washington, DC 20004
Phone: 202-727-6365
Email:
dmped.eom@dc.gov
Web: dmped.dc.gov/page/neighborhood-prosperity-fund-npf
How do I do business in Washington, DC?
The Washington, DC Economic Partnership (WDCEP) produces an annual guide on how to start a business and
develop business in the District. Topics include business registration and licensing, nances, taxes, incentives,
and labor laws. The guide is available in English and Spanish.
Organization: WDCEP
1495 F Street NW, Washington, DC 20004
Phone: 202-661-8670
Web: wdcep.org/tools-research/publications
19
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
ENERGY ASSISTANCE PROGRAMS
Is there an energy assistance program in the District?
DOEE can help you with your energy and utility bills. They have nancial assistance, discounts and late bill
forgiveness programs.
Organization: DOEE
1200 First Street NE, Washington, DC 20002
Phone: 202-535-2600
Web:
doee.dc.gov/energyassistance
The following utilities also have assistance programs:
Organization: DC Water
1385 Canal Street, SE, Washington, DC 20003
Phone: 202-787-2000
Web:
dcwater.com/customer-assistance
Organization: Washington Gas
1100 H Street, NW Washington, DC 20005
Phone: 844-WASHGAS (844-927-4427)
Web:
washingtongas.com/home-owners/savings/energy-assistance
Organization: Pepco
PO Box 97274, Washington, DC 20090-7274
Phone: 202-833-7500
Web:
pepco.com/MyAccount/CustomerSupport/Pages/DC/AssistancePrograms(DC).aspx
The Office of the Peoples Counsel also provides resources for utility consumers:
Organization: Oce of the Peoples Counsel
1133 15th Street NW, Suite 500, Washington, DC 20005
Phone: 202-727-3071
Web:
opc-dc.gov/consumer-assistance
20
FINANCIAL
RESOURCE GUIDE
SAVING AND INVESTMENT PROGRAMS
How do I save money on federal and local taxes?
The DC Earned Income Tax Credit (EITC) is a special tax break, based on the federal EITC, designed specically
for low- and moderate-income workers. People who worked last year and had income of less than approximately
$54,884 and qualify for the EITC will pay less in taxes or even get cash back. To be eligible, individuals must
have earned income or certain disability income. DISB supports theDistrict’s EITC campaignthrough a contract
with Capital Area Asset Builders.
Organization: Capital Area Asset Builders
1100 H Street NW, Suite 200, Washington, DC 20005
Phone: 202-419-1440
Email:
Web: caab.org/en
Organization: DC Oce of the Chief Financial Ocer
1101 4th Street SW, Suite 270 West, Washington, DC 20024
Phone: 202-727-4829
Web: otr.cfo.dc.gov/page/earned-income-tax-credit-dc
How do I save money for college?
The DC College Savings Plan is a tax-advantaged 529 college savings investment plan oered by the
Government of the District of Columbia. The plan helps District and non-District families save for higher
education expenses for a designated beneciary.
Organization: DC Oce of the Chief Financial Ocer
1350 Pennsylvania Avenue NW, Suite 203, Washington, DC 20004
Phone: 202-727-2476 or 800-584-6401
Web: cfo.dc.gov/service/dc-college-savings-plan
Is there a rebate program for my home?
The RiverSmart Homes program oers a series of rebates for trees, rain barrels, rain gardens and impervious
surface removal. Any District single-family homeowner is eligible to apply for the rebates, and homeowners that
have already participated in the RiverSmart Homes program can also take advantage of the rebates.
Organization: Department of Energy and Environment (DOEE)
1200 First Street NE, Washington, DC 20002
Phone: 202-535-2600
Web: doee.dc.gov/riversmartrebates
Is there an energy assistance program in the District?
DOEE can help you with your energy and utility bills. They have nancial assistance, discounts and late bill
forgiveness programs.
Organization: DOEE
1200 First Street NE, Washington, DC 20002
Phone: 202-535-2600
Web: doee.dc.gov/energyassistance
21
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
FINANCIAL SCAMS
Have you received a telephone offer that seems too good to be true?
Check out DISB’s nancial fraud preventiontips that can help protect you and your family from fraud and
identify scams. Senior citizens especially should be aware of nancial fraud scams, which come in dierent forms
such as in-person, by telephone or through unsolicited letters and emails. If you, or someone you know, is a victim
of a scam, report the incident to DISB for investigation.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: disb@dc.gov
Web: disb.dc.gov
Have you received a phone call from someone who claims to be from the Internal Revenue Service (IRS)?
Scammers use the IRS name, logo, fake employee names and badge numbers to steal money and identities
from taxpayers. Often, these criminals will say taxpayers owe money and demand payment right away. Also,
scammers will lie to taxpayers and say they’re due a refund. The thieves ask for bank account information over
the phone. The IRS warns taxpayers not to fall for these scams. Be aware that IRS will:
• Never initiate a call to you directly (IRS will mail tax bills to you rst);
• Never demand information;
• Never ask for your credit card number over the phone; and
• Never threaten you with arrest by local police.
Organization: Internal Revenue Service
Phone: 1-800-829-0433 Tax Fraud Hotline
Email:
complain[email protected]eas.gov
Web: irs.gov/individuals/how-do-you-report-suspected-tax-fraud-activity
Did you know that a physician has to certify medical products before Medicare will pay for it?
Older adults are frequent targets of Medicare schemes, especially by medical equipment manufacturers
oering free medical products in exchange for your Medicare numbers. Because a physician has to sign a form
certifying that equipment or testing is needed before Medicare pays for it, con artists fake signatures or bribe
corrupt doctors to sign the forms. Once a signature is in place, the manufacturers bill Medicare for merchandise
or service that was not needed or ordered. Before you give the salesperson your Medicare numbers, conrm
with your doctor that you need the medical equipment. Also, ask your doctor to provide a detailed account of
the services needed. Review any account statements carefully and report Medicare errors immediately.
Organization: U.S. Department of Health and Human Services Oce of the Inspector General
Phone: 1-800-MEDICARE
Web: Medicare.gov
A contractor offers a home improvement at a reasonable price. The contractor wants to start work before the
papers are signed. How do I verify that this is a legitimate offer?
Do not let a contractor rush you into a decision about home repairs or improvements, nancing or signing
papers. First, check out the contractor’s license with the DC Department of Consumer and Regulatory Aairs at
202-442-4400 and research the lender’s activities with DISB at 202-727-8000.
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FINANCIAL
RESOURCE GUIDE
I received a notice in the mail saying I won $50,000 and need to send in $500 to pay the taxes on the prize
money. Is this legit?
No, this is a scam. The elderly are among the most targeted when it comes to sweepstakes and lottery
scams.Don’t send any money or give your personal information to these callers, especially when you didn’t enter
the sweepstakes or lottery.
I received an unsolicited financial offer in my email inbox. Should I respond to it?
Cybercrime is a $445 billion industry. Emails are sent to individuals with the purpose of capturing condential
personal and nancial information such as passwords, checking and credit card account numbers and Social
Security numbers. The scammers use the information to steal your identity. Do not respond to unsolicited email
oers; just delete them from your account. If your identity is stolen, report the crime to your nancial service
providers and to the three credit bureaus: Equifax at equifax.comor 1-800-525-6285; Experian at
experian.comor 1-888-397-3742; and TransUnion at transunion.comor 1-800-680-7289.
Have you received a phone call from a grandchild’s friend or another relative asking for money to be wired
right away to keep them out of trouble?
This is called the grandparents scam. To avoid becoming a victim of this scam, (1) never send money to
individuals before verifying that the calls are coming from legitimate sources; and (2) if a caller claims to be a
grandchild, hang up the phone and call the actual grandchild or the grandchild’s parents immediately. Report
scams to DISB’s Enforcement and Consumer Protection Division at 202-727-8000.
Web: disb.dc.gov/publication/beware-grandparent-scam
I receive prerecorded calls from unknown individuals regarding the award of a grant. What should I do?
This type of nancial scam is called the grant scam and is carried out using robocalls—automated telephone
calls with prerecorded messages. Often, the phone number will appear on your caller ID as originating within
the 202 area code; it also may appear to be coming from a government agency—this is called “spoong.”
When you answer the telephone, a prerecorded message may announce that, “this is the Grant Department
from Washington, DC;” that you have been approved for a grant of $9,000; and that they have been trying
to reach you regarding your money transfer. The prerecorded message may ask you to call it. Do NOT call
the number. Likewise, do NOT press any numbers on your dial pad that the prerecorded message might
suggest. If you receive a live, unsolicited call from an unknown individual asking for your banking or other
personal information to conrm payment of your grant money, do NOT interact with the caller. Instead, hang
up immediately. No federal or state government grant-making agency will solicit money or personal banking
information from a potential grant recipient.
Report unsolicited calls to the Federal Trade Commission. Be prepared to provide information such as the
time and date of the call, the number that appeared on your caller ID screen, your telephone number and a
description of the message.
Organization: Federal Trade Commission
600 Pennsylvania Avenue NW, Washington, DC 20580
Phone: 202-326-2222
Web: DoNotCall.gov
23
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
Is there a program to help me identify financial scams targeting seniors?
DISB, in conjunction with the Elder Abuse Prevention Committee, holds “Money Smart for Older Adults”
presentations at senior centers throughout the District to keep seniors up-to-date on nancial information
and ways to detect nancial scams. The Money Smart curriculum is provided by the Federal Deposit Insurance
Corporation and the Bureau of Consumer Financial Protection. To request a nancial fraud prevention
presentation at your neighborhood center or location, complete the speaker request form at disb.dc.gov/
service/request-speaker-disb.
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: disb@dc.gov
Web: disb.dc.gov
FILE A COMPLAINT, REPORT FRAUD
AND OTHER ISSUES
Where do I go to file an insurance, financial services or securities complaint?
Consumers can le a complaint with DISB about transactions, products and providers in the insurance, securities
and banking sectors. Our consumer services division handles complaints regarding:
• home, auto, business, health, life, dental and other insurance problems
• anity group plans
• investment accounts
• securities oerings
• broker-dealers and investment advisers
• questionable investment practices
• suitability of transactions
• check cashers including those operating in small grocery stores and liquor stores
• consumer credit service organizations
• consumer sales nance companies
• banks, money lenders, money transmitters
• mortgage lenders, mortgage brokers and mortgage loan originators
• service contracts
Complaints may include:
• coverage issues
• claim disputes
• premium problems
• sales misrepresentations
• policy cancellations
• refunds
• inappropriate conduct of nancial service providers and salespersons
• student loan servicers
• behavioral health providers
• appraisal management companies
Organization: DISB
1050 First Street NE, Suite 801, Washington, DC 20002
Phone: 202-727-8000
Email: [email protected]v
Web: disb.dc.gov/le-complaint-and-report-fraud
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FINANCIAL
RESOURCE GUIDE
After I submit the complaint to DISB, what can I expect?
A sta member will call or write you regarding the complaint.
Where do I report suspected abuse of seniors and incapacitated adults?
The Adult Protective Services Unit, under the DC Department of Human Services, investigates reports of
alleged cases of abuse, neglect and exploitation by third parties, and self-neglect of vulnerable adults 18 years
of age or older. Financial elder abuse reports also can be led with DISB. See information above on how to le
a complaint.
Organization: DC Department of Human Services, Family Services Administration
Adult Protective Services
64 New York Avenue NE, Washington, DC 20002
Phone: 202-541-3950
Web: dhs.dc.gov/service/adult-protective-services
Where do I go to resolve problems with Medicaid, Medicare and other government-sponsored health plans?
The District’s Health Care Ombudsman can help you understand your health care rights and responsibilities;
resolve problems with health care coverage and bills; help you access health care services; and navigate
health plan appeals that pertain to Medicaid, Medicare, DC HealthCare Alliance, DC Healthy Families and
prescription drug coverage.
Organization: DC Oce of Health Care Ombudsman and Bill of Rights
One Judiciary Square, 441 4th Street NW, 900S, Washington, DC 20001
Phone: 202-724-7491; 877-685-6391
Web: healthcareombudsman.dc.gov
FEDERAL GOVERNMENT RESOURCES
DISB can help address your question and refer you to the right resource. Several federal government agencies
oer support with nancial services issues.
Consumer Financial Protection Bureau (CFPB)
The CFPB writes rules and enforces federal consumer nancial protection laws, takes consumer complaints,
researches consumer behavior and monitors nancial markets.
Location: 1700 G Street NW, Washington, DC 20552
Phone: 202-435-7000
Web: consumernance.gov
Federal Deposit Insurance Corporation (FDIC)
The FDIC insures bank deposits up to $250,000 in case a bank fails. It also handles complaints and regulates
FDIC insured state banks that are not members of the Federal Reserve System.
Location: 550 17th Street NW, Washington, DC 20429-9990
Phone: 202-393-8400
Web: fdic.gov
25
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
Federal Reserve
The Federal Reserve is the central bank for the United States. Its mission is to provide the nation with a safer,
exible and stable monetary and nancial system. It administers regulations such as the Truth-in-Lending, Equal
Credit Opportunity and Fair Credit Reporting Acts.
Location: 20th Street and Constitution Avenue NW, Washington, DC 20551
Phone: 202-452-3000
Web: federalreserve.gov
Federal Trade Commission (FTC)
The FTC protects consumers by stopping unfair, deceptive or fraudulent practices in the marketplace. It handles
complaints concerning most non-bank lenders, such as mortgage and nance companies and state credit
unions.
Location: 600 Pennsylvania Avenue NW, Washington, DC 20580
Phone: 202-326-2222
Web: ftc.gov
National Credit Union Administration (NCUA)
The NCUA is an independent federal agency that handles complaints and regulates national credit unions. The
agency has created a website, mycreditunion.gov, where you will nd consumer specic information about credit
unions.
Location: 1775 Duke Street, Alexandria, VA 22314
Phone: 703-518-6300
Web: ncua.gov or mycreditunion.gov
Office of the Comptroller of the Currency (OCC)
The OCC charters, regulates and supervises national banks and also supervises the federal branches and
agencies of foreign banks. The agency has created a website, Helpwithmybank.gov, to assist consumers with
banking issues.
Location: 250 E Street SW, Washington, DC 20005
Phone: 202-874-5000
Web: occ.gov or Helpwithmybank.gov
U.S. Commodity Futures Trading Commission (CFTC)
The CFTC is the federal agency that regulates the trading of commodity futures and options contracts and
takes action against rms suspected of illegal or fraudulent activities.
Location: Three Lafayette Centre, 1125 21st Street NW, Washington, DC 20851
Web: cftc.gov
U.S. Department of Housing and Urban Development (HUD)
HUD is the federal government agency that oversees home mortgage lending practices. It also handles
complaints in several categories including housing discrimination, manufactured housing, land sales and
deceptive contractors.
Location: 451 7th Street SW, Washington, DC 20410
Phone: 202-708-1112
Web: hud.gov
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FINANCIAL
RESOURCE GUIDE
U.S. Department of Justice (DOJ)
The DOJ is the federal agency charged with the enforcement of United States law, both civil and criminal, and
is responsible for investigating and pursuing allegations of consumer fraud. The Consumer Protection Branch
leads the Justice Department’s eorts to enforce consumer protection statutes throughout the United States.
Location: 950 Pennsylvania Avenue NW, Washington, DC 20530-0001
Phone: 202-524-2000
Web: usdoj.gov
U.S. Securities and Exchange Commission (SEC)
The mission of the SEC is to protect investors, maintain fair, orderly, and ecient markets, and facilitate capital
formation. The SEC Oce of Investor Education and Advocacy also provides a variety of services and tools to
address consumer problems and questions.
Location: 100 F Street NE, Washington, DC 20549
Phone: 202-942-8088
Web: sec.gov
U.S. Treasury Department
The Treasury Department is the executive agency responsible for promoting economic prosperity and ensuring
the nancial security of the United States. You can buy digital savings bonds and other Treasury securities,
convert paper bonds and submit damaged currency to this agency. The Treasury’s Oce of Consumer Policy
works to ensure access to safe and aordable nancial products and services. It provides information that
enables individuals to make sound nancial decisions.
Location: 1500 Pennsylvania Avenue NW, Washington, DC 20220
Phone: 202-622-6415
Web: treas.gov
U.S. Department of Veterans Affairs (VA)
The VA administers a variety of benets and services that provide nancial and other forms of assistance to
service members, veterans, their dependents and survivors. It also handles complaints about loans guaranteed
by the VA.
Location: VA Consumer Aairs Service
810 Vermont Avenue NW, Washington DC 20420
Phone: 800-827-1000
Web:
va.gov
U.S. Small Business Administration (SBA)
The SBA is the only cabinet-level federal agency fully dedicated to small business and provides counseling, capital,
and contracting expertise as the nation’s voice for small businesses.
Location: Washington, DC District Oce
409 3rd Street SW, 2nd Floor, Washington, DC 20416
Phone: 202-205-8800
Web: sba.gov
27
DISTRICT OF COLUMBIA
DEPARTMENT OF INSURANCE, SECURITIES AND BANKING
Internet Crime Complaint Center (IC3)
The IC3 accepts online internet crime complaints from victims or from a third party. The center is a partnership
between the Federal Bureau of Investigation and the National White Collar Crime Center.
Location: Federal Bureau of Investigation
935 Pennsylvania Avenue NW, Washington, DC 20535-0001
Phone: 202-324-3000
Web: ic3.gov
Social Security Administration (SSA)
The SSA manages Social Security, a social insurance benet program covering retirement, disability and
survivor’s benets. To be eligible for the benets, workers must pay Social Security taxes.
Location: Postal Plaza Shopping Center, 1905-B 9th Street NE
Washington, DC 20018
Phone: 800-772-1213
Web: ssa.gov
Centers for Medicaid and Medicare
This federal government agency administers the federal Medicaid and Medicare programs. It also handles
complaints regarding Medicaid, Medicare, Medicare Prescription Drug Coverage, HIPAA (Health Insurance
Portability and Accountability Act) privacy and more.
Location: 7500 Security Boulevard, Baltimore, MD 21244
Phone: 877-267-2323
Web: cms.gov
COVID-19 RESOURCES
Are there resources for individuals and businesses that have been financially impacted by the coronavirus
(COVID-19) public health emergency?
The District government has compiled a list of resources to help with nancial recovery from COVID-19.
Go to
coronavirus.dc.gov/recovery.
28
FINANCIAL
RESOURCE GUIDE
KARIMA M. WOODS
COMMISSIONER
1050 FIRST STREET NE, SUITE 801
WASHINGTON, DC 20002
202-727-8000
DISB.DC.GOV
DISB.COMMUNICATIONS@DC.GOV
@DCDISB
