2022Teach Children to Save Week!

DBA President, Sarah Long, reads The Lonely Bill to an assembly of three combined classes at Brandywine Springs Elementary School on  Monday. DBA, VP, Greg Koseluk, also the book's author, signed copies of the book for each student. Their visit also included a money magic show to help illustrate the saving concepts.

The 2022 Teach Children to Save Day effort started Monday, running all this week before wrapping up today! Approximately 250 banker volunteers visited classrooms throughout Delaware to teach over 7,000 public, private, and parochial school students about the importance of saving for a financially independent future.

Thank you to all the volunteers

and to all of the sponsors of 2022 Teach Children to Save Day:

Discover Bank

Barclays

Capital One

TD Bank

WSFS Bank

Bank of America

Fulton Bank

M&T Bank

Wells Fargo

Artisans' Bank

Comenity

First Citizens Community Bank

Shore United Bank

WSFS Financial Corporation Rings the Nasdaq Stock Market Opening Bell

WSFS Financial Corporation (Nasdaq: WSFS), visits the Nasdaq MarketSite in Times Square. Its primary subsidiary, WSFS Bank, is the oldest and largest locally-managed bank and trust company headquartered in Delaware and the Greater Philadelphia region. While this event marks the 35th year WSFS has been listed as a public company, its history dates back nearly 200 years. In honor of the occasion, Rodger Levenson, WSFS’ Chairman, President and CEO, rings the Opening Bell.

Jenifer Jurden is a Cartoonist from Wilmington who has graciously provided her Planet Jurdy cartoons for the DBA Digest. Jurdy® is her other-worldly "Hero of Happyness" whose cartoons bring levity to humans worldwide.

Troutman Pepper Insight: CFPB Makes Move to Widen Supervisory Scope

On April 25, the Consumer Financial Protection Bureau (CFPB or Bureau) announced that it would begin invoking a provision in Dodd-Frank, previously used only infrequently, to conduct supervisory examinations over a greater number of nonbank financial companies that may “pose risks to consumers.”

Under Dodd-Frank, the CFPB has authority to examine three categories of nonbank entities:

1. Nonbank entities that offer or originate mortgages, private student loans, and payday loans, regardless of the nonbank entity’s size.
2. Larger nonbank participants, designated under the CFPB’s various “larger participant” rules, in other markets for consumer financial products and services — e.g., consumer reporting, debt collection, student loan servicing, international remittances, and auto finance.
3. Nonbanks engaging, or have engaged, in “conduct that poses risks to consumers.”

Ballard Spahr Webinar - CFPB Director Rohit Chopra: Do His Words Speak Louder Than His Actions?

May 11th - 12 noon

Director Chopra has been in office for about six months and has given many speeches, issued several RFIs, and otherwise has shared his views on a wide variety of consumer finance issues. However, much to the surprise of those in the financial services industry, the Consumer Financial Protection Bureau (CFPB) has only filed a handful of enforcement actions and consent orders, and done very little of a public nature on the regulatory front except for activity related to section 1071 of Dodd-Frank (small business loan).

In this webcast, we will first explore the public enforcement and regulatory actions during Director Chopra’s first six months in office. We will then discuss his public speeches, RFIs, and other activity during this time period. Throughout the webinar, we will provide our views on how companies should respond to Director Chopra’s “words.” We will also share our views about topics, like arbitration, that have not been given any public attention (neither words nor deeds) by Director Chopra.