Washington, DC—In celebration of April as Financial Literacy Month, District residents can take advantage of free educational programs, resources and services that promote inclusive prosperity, economic growth, and personal financial well-being.
“Many Americans worry about having enough funds to cover daily expenses let alone plan for retirement,” said Stephen C. Taylor, Commissioner of the District of Columbia Department of Insurance, Securities and Banking (DISB). “Mayor Bowser and her administration are committed to providing educational programs and strategies to ensure that all District residents have a fair shot at creating, building and protecting wealth.”
DISB, the District’s financial regulator and consumer advocate, offers free educational resources to help consumers make informed decisions regarding everyday financial matters.
Programs and resources to empower residents:
- Looking to get out of debt? Buy a home? Build your emergency fund? Check out Financially Fit DC, a financial education program with an online component that helps residents improve their financial capability and set financial goals. Get started now at financiallyfitdc.com.
- Worried about your grandparents being exploited by financial con artists? Have you received a telephone offer that seems too good to be true? Check out DISB’s financial fraud prevention tips that help residents identify scams. If you or someone you know is a victim of a scam, report the incident to DISB for investigation.
- Are you a District resident who worked last year and had income of less than $54,884? Check out your eligibility for Earned Income Tax Credit (EITC). The EITC is a special tax break designed specifically for low- and moderate-income workers. People who 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 the District’s EITC campaign through a contract with Capital Area Asset Builders.
Save money and visit a free tax preparation site at: http://www.caab.org/en/free-tax-preparation-services/free-tax-preparation-services-in-dc.
- Is your child enrolled in a licensed DC child care facility? In last year’s budget, Mayor Bowser created a new Early Learning Tax Credit to make child care more affordable and provide a fair shot for District families. Through the Early Learning Tax Credit, families with children enrolled in a licensed DC child care facility can receive a tax credit of up to $1,000 per eligible child.
- Do you need start-up capital to open your own business? Looking to expand your business? DISB administers programs that facilitate access to capital for District entrepreneurs and small businesses. Visit https://disb.dc.gov/service/small-business-resources to learn more about DC BizCAP.
- Have you gotten a call about consolidating your student loans? Need help in navigating the student loan repayment process? Want to know more about loan forgiveness programs? To review your student loan situation with a trained counselor, contact the District’s Student Loan Ombudsman at (202) 727-8000 or [email protected].
- What is the difference between water damage and flooding? If your friend’s car is vandalized on your property, are you responsible? Will your homeowner’s or renter’s insurance policy mitigate your out-of-pocket expenses? DISB provides information on often-missed insurance considerations that can lead to more costs down the road. View the Department’s Consumer Alerts and Guides for insurance tips.
- Are you facing foreclosure? DISB provides access to a number of resources to help District residents avoid foreclosure including foreclosure mediation, housing counseling, and legal aid for homeowners. Call the District’s Foreclosure Prevention Hotline at (202) 265-CALL (2255) or the Department at (202) 727-8000 for assistance on accessing any of these resources.
Visit disb.dc.gov for more information about how the District is celebrating April as Financial Literacy Month, our financial education programs and resources, to request materials, or schedule a speaker for a community event.
The mission of the District of Columbia Department of Insurance, Securities and Banking is two-fold: 1) to protect consumers by providing equitable, thorough, efficient and prompt regulatory supervision of the financial services companies, firms and individuals operating in the District of Columbia; and 2) develop and improve market conditions to attract and retain financial services firms to the District of Columbia. Visit DISB online at disb.dc.gov.