disb

Department of Insurance, Securities and Banking
 

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Enforcement

DISB enforces District laws to maintain a fair and equitable financial marketplace in the District of Columbia. DISB has the authority to investigate violations of the District’s financial laws and regulations, inquiries from individuals and businesses and complaints from District residents.

DISB has a multi-pronged approach to enforcement

DISB through its Enforcement and Consumer Protection Division (ECPD) investigates alleged violations of financial services laws against District residents and companies, as well as fraud by regulated and unregulated financial entities doing business in the District. Investigative results of suspected criminal violations are presented to the District’s Office of the Attorney General or to the Office of the U.S. Attorney for criminal prosecution. Administrative violations resulting from ECPD investigations are prosecuted by DISB.

DISB through its Compliance and Analysis Division (CAD) researches and analyzes the financial industry sectors to establish best practice standards and guidelines for design, delivery and monitoring of products and services offered in the District’s financial services marketplace. CAD reviews and investigates consumer complaints regarding financial service providers operating in the District: (1) to determine compliance with District laws and regulations; and (2) to investigate matters of unfair trade practices and alleged misconduct. Incidents of suspected illegal and criminal activities are referred to the Enforcement and Consumer Protection Division for investigation.

DISB is authorized to hold administrative hearings. The administrative hearing process is similar to being in court for a trial. The administrative hearing involves matters and disputes under the authority of DISB. Chapter 18 of the District of Columbia Official Code is the general law which governs administrative hearings. An administrative hearing establishes a record of facts in a particular case toward some type of resolution. In the hearing, you are allowed to tell your side of the story during the proceedings. The hearing officer will oversee the hearing, ruling on procedure, the evidence which may be presented, and objections.