DBA Digest for August 18, 2023

ABA Donates $25,000 to Disaster Relief Efforts in Hawaii, Urges Bankers to Contribute

In the aftermath of the deadliest U.S. wildfire in more than a century, the American Bankers Association will donate $25,000 to the Hawaii Community Foundation’s Maui Strong Fund to assist with immediate disaster response and recovery. The ABA donation follows a similar contribution from ABA’s alliance partners at the Hawaii Bankers Association. The HBA was one of the first organizations to donate to the Maui Strong Fund, and banks across Hawaii are stepping up to support relief efforts by accepting donations at branches across the state.

The true meaning of “Aloha” is living in harmony with the people and land around you with mercy, sympathy, grace and kindness. ABA encourages banking industry employees across the country and members of the public to embody that spirit by contributing to this critical fundraising effort. Please donate to the Hawaii Community Foundation’s Maui Strong Fund.

2023 FDIC Directors' College -

September 22nd - Dewey, DE

Dont' miss the 2023 FDIC Directors' College, September 22, 8:30 to 1:30, at the Hyatt Place, Dewey, DE. The FDIC Directors’ College is an interactive program that provides ongoing education on current topics of bank supervision to bank directors, senior officers, corporate secretaries, and board advisors. The course is designed to help directors and trustees, both new and experienced, stay abreast of the ever-changing regulatory environment. Modules this year include: Consumer Protection; Risk Management; Conversation with the Regulators; and Economics and Banking Update. Please click on the link below to view the detailed agenda and to register.

Learn Best Practices of Delaware Trusts! New Three-Part Series, Live and On-Demand

The latest Foundations of Delaware Trusts series has begun! The first session, Transfer Trust Best Practices, was held Wednesday. Did you miss it? No, you didn't because all sessions will be on-demand!

This new series features three sessions highlighting the best practices for trust professionals taught by Delaware's top trust experts! Each session will be conducted live on the date indicated and will be available for on-demand viewing afterward to train your entire staff. DBA Members can register for all three for just $499 ($199 each purchased separately).

Transfer Trust Best Practices - On-Demand

Instructors: Matthew P. D'Emilio, Managing Member, McCollom D'Emilio Smith Uebler LLC; Tara S. Hersh, Associate, McCollom D'Emilio Smith Uebler LLC

GST Tax Best Practices - August 29, 10:00 a.m.

Instructors: Cynthia D.M. Brown, President, Commonwealth Trust Company; Kimberly Gill McKinnon, Director, Gordon, Fournaris & Mammarella, P.A.

Trust Termination Best Practices - September 7, 11:00 a.m.

Instructors: Mark A. Oller, Delaware Trust Executive, U.S. Trust Company of Delaware; Todd A. Flubacher, Esq., Partner, Morris, Nichols, Arsht & Tunnell LLP

2023 Delaware Trust Conference - All-Star Speakers! In-Person! Live-Stream! On-Demand!

Don't miss the all-star line-up of wealth management experts and the 2023 Delaware Trust Conference ends today, August 4th! The 2023 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streaming, on October 17 & 18, AND on-demand through November! See the agenda via the link below and register today!

Delaware Trust Conference - New for 2023! Monday Evening Reception on the Kalmar Nyckel!

The 2023 Delaware Trust Conference will kick off with a reception Monday, October 16, 4 to 6 p.m. on Delaware's tall ship, the Kalmar Nyckel. Tickets to this exclusive reception event are just $150. Platinum and Diamond Sponsors receive two free registrations to the reception with their sponsorships. Space is limited! Contact Corinne Stayton to reserve your spot today!

Business Writing Workshop

November 1, 2023, 9:00 am - 4:00 pm

Time equals money in the work world, so creating clear documents quickly that can be understood easily is crucial.

Join Linda Comerford, Comerford Consulting for this rewarding on-line course via Zoom,

November 1: 9:00 a.m. to 4:00 p.m.  

Just $199 per person for DBA members! ($249 for non-members)

Workshop Objectives: After attending this course, participants will benefit from an increased ability to:

• Identify varied audiences and purposes for writing;
• Polish rough edges of their writing style in paragraphs, sentences, words, and format;
• Write more effective documents while following a more efficient writing process; and,
• Apply course concepts to their actual writing samples.

Taking the Grr out of Grammar

November 8, 2023, 9:00 am - 12:30 pm

Surveys show that 80% of those in the business world tend to say, “Grr!” a lot when editing a document.

Join Linda Comerford, Comerford Consulting for this valuable on-line course

November 8: 9:00 a.m. to 12:30 p.m. 

Just $99 per person for DBA members! ($149 for non-members)

Workshop Objectives:  This half-day course helps participants do the following when writing and editing:  

• Analyze why correct documents are so important;
• Identify the errors that tarnish a writer’s image;
• Learn practical, current grammar and punctuation rules;
• Practice correcting grammar glitches and punctuation pitfalls; and,
• Demonstrate understanding of the rules through a pre- and post-quiz.

Mid-Atlantic Bank Executives Conference

September 10 - 11

This event, brought to you by five states (DE, MD, PA, VA and WV) will bring together bankers and industry partners for sessions with nationally recognized speakers providing relevant and timely content geared specifically to bank c-suite and other senior leaders. See the full agenda and registration information via the link below.

Bank of America Private Bank Market Minute

The S&P 500 ended last week around its one-month low. The Nasdaq Composite lost 1.9%, notching a second consecutive losing week, its only instance all year. The Dow Jones Industrial Average (Dow) finished last week slightly higher. Energy was the top performing sector of the 11 major S&P 500 sectors as crude prices climbed to their highest level this year. Financials sold off early last week on the news that ratings firm Moody’s Investors Service lowered its credit ratings for 10 small- and mid-cap banks and placed others under review. Flows into money markets were robust for the week (data through August 9), increasing by $14.37 billion to $5.53 trillion, the Investment Company Institute reported. In economic news, July’s inflation prints showed a continued moderation in inflation pressures. Consumer prices were largely in line with expectations, rising 0.2% month-over-month and 3.2% on an annual basis. Core inflation, which excludes energy and food, rose 0.2% for the month, and 4.7% annually—the lowest rate since October 2021. Producer prices rose 0.3% last month and rose 0.8% on a year-over-year basis. Following the inflation prints, chances of the Federal Reserve (Fed) raising its benchmark rate at its September meeting fell to 10% according to the CME FedWatch Tool, while the probability for a November hike are around 37%. This week, the Census Bureau’s July retail sales report will give clues on the health of the U.S. consumer followed by the Import Price Index and Industrial production reads.

New- Ask the Fed®: Energy Update: Oil, Natural Gas, and Renewables -

Wednesday, August 23, 2023, at 2:00 p.m. ET

Uncertainty in the energy market in 2022 resulted in elevated volatility in the prices of crude oil and natural gas. Prices for both have cooled off in 2023, and some unanswered questions from last year have been answered this year. However, tightening credit conditions, coupled with sharp monetary policy tightening globally, is putting additional pressure on energy market participants. This energy transition is reshaping the landscape of the energy sector gradually.

This 90-minute Ask the Fed session will include speakers from the Federal Reserve Bank of Dallas’ energy team: SungJe Byun, Senior Economist; Rebin Kawani, Data Scientist; Kunal Patel, Senior Business Economist; and Jesse Thompson, Senior Business Economist. The session will discuss outlook and financing trends for oil, natural gas, and renewables.

Ask the Regulators: Commercial Real Estate Loan Accommodations and Workout Guidance -

Sept. 14, 2 p.m.

On Thursday, September 14, from 2:00-3:30 p.m. Eastern, the Office of the Comptroller of the Currency (OCC), Board of Governors of the Federal Reserve System (Board), Federal Deposit Insurance Corporation (FDIC), and National Credit Union Administration (NCUA) (the agencies) will conduct an Ask the Regulators webinar to explain the revisions and additions to the Policy Statement on Prudent Commercial Real Estate Loan Accommodations and Workouts that was issued June 2023. During the webinar, staff of the agencies will review best practices for managing deteriorating and problem commercial real estate loans and workout arrangements, describe how supervisors assess the management of commercial real estate loan accommodations and workouts, and review supervisory expectations for valuations.

Santora CPA Group is a 2023 Top 400 Firm!

Santora CPA Group, a Newark-based Certified Public Accounting and Consulting firm, has recently been recognized for a second consecutive year by INSIDE Public Accounting (IPA) as a 2023 Top 400 Firm based upon their annual rankings of the largest accounting firms in the nation.

When told of the recognition, SCG’s Managing Director, Heath Kahrs, said, “The firm’s continued growth and success is a direct result of the incredible team that we have and their relentless dedication to serving our clients. I am so proud of our people and our clients.” 

78 Richards, Layton & Finger Attorneys Named in Best Lawyers

The Best Lawyers in America has named 78 Richards, Layton & Finger attorneys in its 2024 rankings. Best Lawyers has also selected Richards Layton attorneys as Wilmington, Delaware Lawyers of the Year in five practice areas, an award presented to one outstanding lawyer in each specialty in a metropolitan area: Mark Collins in Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law, Kelly Farnan in Patent Litigation, Mark Gentile in both Corporate Law and Mergers and Acquisitions Law, and Mark Purpura in Business Organizations (including LLCs and Partnerships).



“I’m very proud that Best Lawyers has recognized so many of our lawyers,” said Lisa Schmidt, president of Richards Layton. “And I’m truly honored—not only that our peers respect our skill, hard work, dedication, and commitment to excellence, but also that I work with such an incredible group of talented lawyers.”

Seven Gordon, Fournaris & Mammarella Attorneys Recognized by Best Lawyers in America

Gordon, Fournaris & Mammarella, P.A. once again has seven attorneys in the 2024 Edition of The Best Lawyers in America^® who have been recognized based on their specific practices: Grover C. Brown (Arbitration, Corporate Law, and Mediation), Peter S. Gordon (Litigation-Trusts and Estates, Tax Law, and Trusts and Estates), Thomas Mammarella (Real Estate Law), E. Norman Veasey (Corporate Governance Law), Kimberly Gill McKinnon (Trusts and Estates), Michael M. Gordon (Trusts and Estates), and Daniel F. Hayward (Trusts and Estates). GF&M would like to extend an extra congratulations to Grover C. Brown and Peter S. Gordon for being named in Best Lawyers^® for the 30^th year (both attorneys have been listed in their practice areas since 1993). 

MDSU Attorneys Named Best Lawyers in America

Matthew D’Emilio

Thomas Uebler

Kathleen Murphy

McCollom D’Emilio Smith Uebler LLC attorneys Matthew D’Emilio, Thomas Uebler, and Kathleen Murphy have been recognized by The Best Lawyers in America. D’Emilio was recognized for his work in trust and estates. D’Emilio has been honored in this category since 2015. Uebler was recognized for his work in trusts and estates litigation, making this his sixth consecutive year to be selected by Best Lawyers. Murphy was again named Best Lawyers: Ones to Watch® in America for her work in commercial litigation, corporate governance and compliance law, and litigation – securities.  

Webinar: What the Basel Endgame Proposal Means for Delaware Banking Institutions - Sept. 12

In late July, federal banking regulators jointly proposed extensive revisions to the regulatory capital requirements for midsize and larger US banking institutions. The revisions are lengthy and would change the requirements for credit, market, and operational risk. Some of the revisions are long-expected (e.g., re-evaluation of use of internal models), but others are novel (e.g., capital charge for operational risk) or driven in response to the recent banking crisis. Some of these changes may have an outsized effect on institutions with significant credit card or asset management operations, both prevalent in Delaware. Therefore, it will be important for Delaware banks and trust companies to understand what the federal proposal means for their business and their peers.

Mayer Brown is pleased to offer a tailored briefing through the Delaware Bankers Association on the proposal’s impact. On September 12, 2023, 10 to 11 a.m., please join Matthew Bisanz, Jeff Taft and Julie Gillespie, partners in Mayer Brown’s bank regulatory and structured finance practices, for a webinar on what the proposal means for your institution. They also will take questions and be available for follow-up discussions.

Wilmington University Fall Semester Begins August 28th!

DBA Members Receive Valuable Discounts!

It’s never too late to go back to school! Wilmington University’s fall semester starts Monday, Aug. 28. As part of our partnership with WilmU, you benefit from guaranteed admission, degree programs available in-person and 100% online, discounted tuition, a complimentary Transfer Credit Evaluation and more. Plus, the $35 application fee is waived with a special promo code. For details and to schedule a personal appointment with a WilmU partnership specialist, follow the link below!

Just Action: How to Challenge Segregation Enacted Under the Color of Law A Conversation with Richard Rothstein

- September 13, 2023 from 2:00 PM to 3:30

Join us September 13 for a virtual conversation with Richard Rothstein, author of "The Color of Law" to hear about his new book, "Just Action" and learn how community members and local leaders can play a role in dismantling segregation and building more equitable communities.

Impending FCRA Data Broker Rulemaking Announced by CFPB Director Chopra at White House Data Broker Roundtable

At a White House Roundtable on protecting Americans from allegedly harmful “data broker” practices, Consumer Financial Protection Bureau (CFPB or Bureau) Director Rohit Chopra announced the Bureau’s intention to expand the reach of the Fair Credit Reporting Act (FCRA) to data brokers. He stated, “Next month, the CFPB will publish an outline of proposals and alternatives under consideration for a proposed rule. We’ll soon hear from small businesses, which will help us craft the rule.”