Volume 5 Number
40 October 3, 2008 |
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CONSUMER SERVICES HELPLINE
877-MY-FL-CFO |
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Following the lead of the U.S. Senate, the U.S. House of
Representatives passed the federal financial rescue
legislation by a vote of 263-171 Friday afternoon, with
this version gaining more support from both Democrats
and Republicans than the earlier bill. Speaker Nancy
Pelosi signed the newly printed legislation and stated
that the measure was essential to "begin to shape the
financial stability of our country and the economic
security of our people."
President Bush signed the bill into law this afternoon.
Following the U.S. House of Representatives passage of
the legislation, Florida Chief Financial Officer Alex
Sink offered the following statement:
“During the past few days, I’ve met with dozens of
homeowners and small business owners around the state
who have had difficulty getting access to credit. I
applaud today’s passage of crucial legislation that will
help stabilize the economy and bring more certainty to
our financial and credit markets. Although far from
perfect, this bill allows the Treasury to modify
mortgages to help homeowners avoid foreclosure, has the
potential to open access to credit for the everyday
needs of Floridians, and limits the amount of pay given
to CEOs who have contributed to the current crisis.”
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| CFO Alex Sink and
David Greene. |
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| David Greene confers with Admiral Leroy Collins,
Executive Director of the Department of Veterans' Affairs. |
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| Left to right: Rear Admiral Leroy Collins,
Executive Director of the Department of Veterans'
Affairs; CFO Sink; Jane McConnaughhay;
David Greene; Tammy Teston; Terry Butler; Lori
Parham and |
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CFO SINK CREATES THE ‘SAFEGUARD OUR SENIORS’
TASK FORCE
Sink assembles
diverse group to tackle solutions for protecting senior
investorsStanding beside Mr. David Greene, an 81-year-old retired
Army Master Sergeant and victim of annuity fraud, Florida
Chief Financial Officer Alex Sink announced that she has
created the “Safeguard our Seniors” (SOS) Task Force to
review and recommend solutions to better protect Florida
seniors against financial fraud, with an immediate focus on
annuity fraud. The task force includes senior advocacy,
legal, investigative, consumer, regulatory and industry
representatives.
“Every year, my department investigates hundreds of bad
actors who prey upon Florida seniors, luring them into
inappropriate investments and draining their hard-earned
savings,” said CFO Sink, who oversees the Department of
Financial Services (DFS). “I have created the ‘Safeguard Our
Seniors’ Task Force to identify how our state can better
protect seniors from these financial threats, starting with
annuity fraud.”
CONTINUED
CFO SINK TO MEET WITH
SENIOR VICTIMS OF FINANCIAL FRAUD
Discussion to be followed by the first roundtable meeting
of the Safeguard our Seniors Task Force
Florida Chief Financial Officer Alex Sink will be meeting
with several senior victims of financial fraud on Monday,
October 6, 2008, at the Hillsborough County Courthouse in
Tampa. These Florida seniors will share their stories and
discuss possible solutions with CFO Sink to better protect
seniors against financial fraud.
The discussion will start at 10:30 a.m. and conclude by
11:30 a.m. CFO Sink will then convene a meeting of the
Safeguard our Seniors Task Force from 1:00 p.m. to 3:00 p.m.
to evaluate the current status of annuity fraud in Florida.
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STILL TIME TO FILE FOR YOUR
ECONOMIC STIMULUS PAYMENT For
those residents who still intend to receive an economic
stimulus payment, the Oct. 15 deadline to file a 2007 income
tax return is fast approaching.
And according to the Internal Revenue Service, there were
317,388
potential filers in Florida in
mid-September who had not submitted a tax return to get the
stimulus check.
Nationally, the IRS is alerting the estimated 4.3 million
retirees and disabled veterans who may be eligible to
receive a stimulus payment, but who normally don't file a
tax return. It's also the deadline for the approximately 10
million people who earlier this year received extensions to
file their 2007 income tax return.
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| Dr. Carmine Priore, Vice Mayor, Wellington and
president of the Florida League of Cities. |
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CABINET RECOGNIZES FLORIDA CITY GOVERNMENT
WEEK
The designation of Florida City Government Week,
October 15 through 21, 2008, provides an
appropriate occasion for Floridians to recognize the
significant role played by city government in the daily
lives of all citizens by offering an opportunity to inform
Florida citizens that through their involvement, they can
shape and influence local, state and national government
sectors. The week also serves to recognize all municipal
employees and officials for their dedication and commitment
to local governments and urge all Floridians to join in this
recognition of excellence and public service.
CONTINUED
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| Ellen Wilcox, FDLE Special Agent is pictured
with her husband, Dennis, her in-laws, Don
and Alice Morris and Commissioner Gerald
Bailey. The second photo is Leigh Clark,
FDLE Forensic Scientist and Commissioner
Bailey. |
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SPECIAL AGENT ELLEN WILCOX IS
2007 FDLE SPECIAL AGENT OF THE YEAR
Special Agent Ellen Wilcox, in recognition of her devotion
to duty, many accomplishments and exemplary service, was
honored by FDLE as the 2007 FDLE Special Agent of the Year.
Promoted to Special Agent in July, 1981, Wilcox regularly
works with law enforcement agencies, regulatory agencies and
industry organizations to identify strategies to combat
mortgage fraud, is a member of several professional
organizations such as the Association of Certified Fraud
Examiners, and is a nationally-recognized expert in the
field of mortgage fraud. She is recognized for her work as a
case agent of a complex mortgage fraud investigation
impacting Florida, as well as the nation, involving both
brokers and lenders responsible for almost 200 fraudulent
loans worth nearly $18 million.
CONTINUED
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| Leigh Clark, FDLE Forensic Scientist and
Commissioner Bailey. |
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CRIME
LABORATORY ANALYST LEIGH CLARK IS
2007 FDLE FORENSIC SCIENTIST OF THE YEAR
FDLE Crime Laboratory
Analyst Leigh Clark, in recognition of her devotion to duty,
many accomplishments and exemplary service, was honored as
the 2007 FDLE Forensic Scientist of the Year for her
extraordinary contributions to the protection of the
citizens and visitors of the State of Florida.
FDLE
Crime Laboratory Analyst Leigh Clark volunteered to be the
principal instructor of four Crime Lab Analyst Trainees and
four Forensic Technologists and the new Biology/DNA section
is now handling a large caseload which has assisted in
cutting the state’s DNA backlog. The quality and
comprehensiveness of the training provided to the Ft. Myers
Regional Laboratory Biology/DNA section members was noted by
inspectors as part of the accreditation of the lab, thanks
to Leigh Clark.
CONTINUED
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| Rosa Gomez, Commissioner’s Award recipient
with are her sons, Master Sergeant Michael Turner,
Khalid Turner, and Staff Sergeant Amin
Turner and her brother, Gilbert Gomez and
Commissioner Bailey |
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STAFF ASSISTANT ROSA GOMEZ IS
2007 FDLE COMMISSIONER’S AWARD WINNER
Rosa Gomez, in recognition of her devotion to duty, many accomplishments
and exemplary service, was honored by FDLE as the 2007 Commissioner’s
Award winner. Mrs. Gomez was appointed to her position in the department
in December 2002, and since then has been an exemplary public servant,
manning the front desk in the Headquarters building rotunda, requiring
her to provide excellent customer service to visitors and telephone
callers and provide the first-line of building security. She has
received numerous accolades for her pleasant demeanor and hospitality,
demonstrated a continued commitment to duty, and provided enthusiastic
assistance whenever requested. Mrs. Gomez has consistently exemplified FDLE’s values of Service, Integrity, Respect and Quality through her
actions.
CONTINUED
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Below - Principal Kay Collins,
students and teachers from Nims Middle School with CFO Sink,
Governor Crist and Attorney General McCollum. |
NIMS MIDDLE SCHOOL RECOGNIZED
BY CABINET AND GOVERNOR
Nims was one of 25 Leon County schools that received more than
$1.8 million for either earning an A or improving at least
one letter grade on last year's FCAT test. Through grit and
hard work, Nims was able to pull itself up from an F to a
C.
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Energy tips for Florida families - these actions
represent ways to behave kindly toward Mother Earth,
AND save money as well as energy.
Presented
by
CFO Alex Sink's science advisor Meg Lowman, Ph.D.,
on the faculty at New College of Florida. Dr. Lowman
has written numerous award-winning books and is an
expert on the rain forests of the world. |
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MAKE
YOUR YARD
FLORIDA FRIENDLY
Did you know that 50 percent of the potable water used in
Florida is devoted to watering lawns and other landscapes?
Florida is facing a serious water shortage as more people
come to live in the state. You can reduce your water use if
you convert your water-loving lawn into a Florida friendly
landscape. This practice is called xeriscape. Although the
word comes from two Greek words, today it has come to mean
"water conservation through creative landscaping."
The fundamentals of xeriscape are easy to follow and
implement. While the project can be as comprehensive as
overhauling your entire lawn, it can be as simple as
changing the plants you already use to include the beautiful
native plants of your area. It is important to first
identify the planting zone you live in - North, Central or
South Florida.
Then you can identify the Florida-friendly plants,
including Florida native plants, that will work in your yard
or landscape design. Nearly 380 trees, palms, shrubs,
flowers, groundcovers, grasses and vines are recommended by
University of Florida/IFAS horticulture experts and are
identified in the
Florida-friendly plant database. The plants
included in the database are available at nurseries
throughout Florida.
When you buy new plants, choose ones that don’t require much
water. Instead of traditional fertilizers, consider using
compost, manure or leaf mold. Mulch areas where you have
planted to reduce evaporation and keep the soil cool. Also
you might consider a sprinkler system that includes an
automatic irrigation/drip system to save water.
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LEON COUNTY JUDGE ORDERS MD MEDICARE
CHOICE INTO RECEIVERSHIP FOR PURPOSES OF LIQUIDATION
A Leon County Circuit Court judge late Monday ordered
Tampa-based MD Medicare Choice (MDMC), a Medicare Advantage
plan with more than 16,000 members in 23 Florida counties,
placed into receivership for the purpose of liquidation. The
Department of Financial Services (DFS) was named receiver,
effective at 11:59 p.m. tonight, and will work closely with
the Centers for Medicare and Medicaid Services (CMS) and
Humana, which will provide replacement coverage effective
Wednesday, October 1.
Judge P. Kevin Davey ordered the receivership after
reviewing financial records showing that MDMC is financially
insolvent and has no cash flow. The company already was
under administrative supervision with the Office of
Insurance Regulation, but fell into further financial
hardship last week when its access to $27 million in
reserves, invested in The Primary Fund of Reserve Management
Corp., was frozen by the Securities and Exchange Commission.
“Our highest priority is to work with the appropriate
agencies to ensure a smooth transition for policyholders,”
said Florida Chief Financial Officer Alex Sink, who oversees
DFS.
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LIFE INSURANCE: COVERAGE CAN SECURE YOUR
FAMILY'S FUTURE
The National
Association of Insurance Commissioners (NAIC) suggests that
you review your life insurance policies to determine if your
coverage is still appropriate for your situation.
The Basics
Life insurance helps secure your family’s financial future
in the event of the death of you and/or your spouse. It also helps
ensure that the estate that you’ve worked to build
will be allocated to the beneficiaries you have chosen.
When purchasing life insurance, consider the financial
responsibilities that your family will immediately inherit
such as a mortgage or car loan. In addition, you’ll want to
consider long-term goals such as your spouse’s retirement or
your children’s education. If you decide that you need more
coverage, determine whether you need term life insurance or
a cash value policy.
Term insurance generally has lower premiums in the early
years, but does not build up a cash value you can access.
Cash value policies come in the form of whole life,
universal life or variable life insurance. It’s important to
know which type of policy you own, and how the benefits are
paid if something happens to you and/or your spouse.
If you have questions about your current coverage, or about
the type of policy to best fit your situation, contact your
life insurance agent or the Florida Department of Financial
Services at
http://www.MyFloridaCFO.com/.
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