DBA Digest for August 19, 2022


Today, August 19th is the last day to take advantage of the Discounted Early-Bird Registration for the 2022 Delaware Trust Conference! Save $200 on full access registration! The 2022 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streaming, on October 18 & 19, AND on-demand through November! The agenda is filled with a stellar lineup of speakers. 18 CLE credits are available, including 2.0 ethics credits. Follow the links below to view the agenda and register.


The List of Sponsors Keeps Growing!

(Is Your Company Represented?)

Join the prestigious Sponsors and Exhibitors for the 2022 Delaware Trust Conference Make sure your firm is represented alongside these companies.

Platinum Sponsor:

The Bryn Mawr Trust Company of Delaware (a WSFS Company)

Diamond Sponsors:

Brown Brothers Harriman Trust Co. of Delaware, N.A.

Connolly Gallagher


Gordon, Fournaris & Mammarella

McCollom D'Emilio Smith Uebler LLC

Richards, Layton & Finger, P.A.

Young Conaway Stargatt & Taylor LLP

Gold Sponsors:

BMO Delaware Trust Company

Charles Schwab Trust Company

Morris, Nichols, Arsht and Tunnell

The Northern Trust Company of Delaware

Wilmington Trust

Silver Sponsors:

BNY Mellon Wealth Management

Brown Advisory

Chilton Trust

Commonwealth Trust Company

Cover & Rossiter

Evercore Trust Company, N.A.

First StateTrust Company

Greenleaf Trust Delaware

Morris James LLP

New York Private Trust Company


PNC Delaware Trust Company

Santora CPA Group

Truist Delaware Trust Company

Bronze Sponsors:

Bank of America, Private Bank

Belfint, Lyons and Shuman, P.A.

Duane Morris LLP


Brown Brothers Harriman


National Care Advisors

Reich & Tang + Total Bank Solutions

Santora CPA Group

Weiner Benefits Group

Whisman Giordano & Associates

See all the sponsorship benefits and download the Exhibitor's Book on the conference webpage.

Trust Conference Webpage

Mid-Atlantic Bank Executives Forum:

September 11-13 - Lansdowne Resort

Join bank executives from five states along with a select group of industry partners for networking and sessions with nationally recognized speakers geared specifically for bank CEOs and other senior leaders.

NEW PROGRAM: Exploring the Future of Work: Join bank executives from five states in this unique, intensive experience that allows leaders to collaborate, ideate and explore the future of the workforce landscape together.


Register for both and receive a discount on your Mid-Atlantic Bank Executives Forum registration!

Agenda & Registration

FDIC Directors' College -

September 23rd, Hyatt Place, Dewey, DE

Don't miss the 2022 FDIC Director's College, September 23, 8:30 a.m. to 1:30 p.m at the Hyatt Place Dewey. The FDIC Directors’ College 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.

This year's agenda includes: Asset-Liability Committee (ALCO) Oversight, AML/CFT Risk Assessing, Third-Party and Risk Management, a conversation with regulators, and an Economic and Banking update. Registration is $299.00/per person, with a discount of 15% for ten or more registrants. To take advantage of this group rate or to register multiple attendees, please reach out to Renee Rau at Renee.Rau@debankers.com


Ask the Fed®: Wednesday, August 31, 2022,

2:00 p.m.- 3:00 p.m. ET: Agriculture Update

During this session, Vice President Nathan Kauffman and Assistant Vice President Nicholas Hatz of the Federal Reserve Bank of Kansas City, will discuss recent developments in agricultural markets, credit conditions, and supervisory implications. 

Economic conditions in agriculture have rebounded dramatically the past two years following multiple years of prolonged weakness prior to the pandemic. Despite this improvement, however, agricultural markets have been volatile in 2022 with the ongoing conflict in Ukraine and slower economic growth in the U.S. and globally. The presenters will share information of interest to agricultural lenders who are seeking to gain a better understanding of the economic and financial environment in U.S. agriculture amid heightened uncertainty and emerging risks for the year ahead.


Bank of America Market Minute

Stocks rallied last week, spurred by better-than-expected inflation readings as the S&P 500 advanced 3.3% over last week, notching its fourth consecutive weekly advance. The index retraced more than half of its bear market decline through last Friday. The Dow Jones Industrial Average and NASDAQ both gained around 3% over the week. The latter has entered a new bull market. Though inflation is still near the highest it has been in decades, the headline Consumer Price Index rose 8.5% from a year ago, lower than the 9.1% reading in June when the Consumer Price Index (CPI) hit a 40-year high. Core inflation also saw a smaller-than-expected increase. U.S. producer prices unexpectedly fell in July largely reflecting a drop in energy costs. The nationwide average gas price fell below $4 a gallon for the first time since March, from a record $5.02 peak nationally in June. August’s preliminary University of Michigan Consumer Sentiment Index read 55.1 after July’s 51.5 reading and a record 50.0 low in sentiment in June. The Chicago Board Options Exchange Volatility Index fell below 20 for the first time since April. China’s figures for July were weaker-than-expected: retail sales, fixed capital investment, industrial production—all were below consensus estimates, raising concerns about growth prospects in the world’s second largest economy. This week, watch for the July retail sales report, the minutes from the Federal Reserve (Fed) July monetary policy meeting, and the Conference Board release of its July Leading Economic Index on Thursday.

Full Story


OCC to Host Virtual Innovation Office Hours

The Office of the Comptroller of the Currency (OCC) announced that it will host virtual Innovation Office Hours on September 28–29, 2022, to promote responsible innovation in the federal banking system.

Office Hours are one-on-one meetings with representatives from the OCC Office of Innovation to discuss financial technology (fintech), new products or services, partnering with a bank or fintech company, or other matters related to responsible innovation in financial services. Each meeting lasts no longer than one hour. Interested parties should request a virtual Office Hours session by August 26, 2022, and are asked to provide information on the topic(s) they are interested in discussing with the Office of Innovation. The OCC will determine specific meeting times and arrangements after it receives and accepts the requests.


Tara S. Hersh Accepted into the Mid-Atlantic Fellows Institute of the American College of Trust and Estate Counsel 

Tara S. Hersh, an associate at the law firm of McCollom D’Emilio Smith Uebler LLC (MDSU) in Wilmington, has been accepted into Class III of the Mid-Atlantic Fellows Institute of the American College of Trust and Estate Counsel (ACTEC).  Tara earned her J.D. from the George Mason University School of Law in Arlington, VA and earned a B.S. degree in Finance and Accounting from Wilmington University in Wilmington, DE. She joined MDSU in 2020. 


The Mid-Atlantic Fellows Institute was created by ACTEC Fellows to develop the profession’s future leaders in trust and estate law through a series of in-depth educational presentations led by outstanding subject matter experts in each field from across the U.S. The institute includes six sessions for lawyers who were nominated by an ACTEC Fellow and selected through a competitive application process. The program begins in September 2022 and concludes in April 2023.

Full Story

Santora CPA Group Announces an Addition to its Team

Santora CPA Group, a Newark-based Certified Public Accounting and Consulting firm, is pleased to announce that Caitlin M. Riggs has joined SCG as a Staff Accountant. She is a 2022 graduate of the University of Delaware with a Bachelor of Science degree in Accounting and Management Information Systems. Caitlin started her career at SCG as a summer intern in 2021. She works on a variety of tax and audit engagements, and she is currently studying for the CPA Exam. She is a member of the American Institute and the Delaware Society of Certified Public Accountants.

Full Story

Troutman Pepper: Merchants Are Now Consumers? FTC Settles Action Against Payment Processor After Alleging Its Merchants Are “Consumers”

On July 29, the Federal Trade Commission (FTC) filed a complaint and executed a stipulated order with payment processor First American Payment Systems LP (First American) and companies that market its services — Eliot Management Group LLC (Eliot) and Think Point Financial LLC (Think Point) (collectively, the defendants). The FTC alleged that the defendants violated Section 5 of the Federal Trade Commission Act (FTC Act), 15 U.S.C. § 45, and Section 4 of the Restore Online Shoppers’ Confidence Act (ROSCA), 15 U.S.C. § 8403, arising out of the marketing of First American’s payment processing services to merchants and the alleged failure to provide clear and conspicuous contractual terms in the online application and agreement between First American and the merchants.

Full Story

DEBCC 2nd Anniversary Gala - September 16!

Join the Delaware Black Chamber of Commerce as they celebrate their 2nd Year Anniversary at the DuPont Country Club.  The Fundraising Gala is a formal attire event. Open Bar!  Keynote Speaker: Dr. Randall Pinkett

Members Only $300; Non-Members $350.


We want to hear from you! Please send your news items to
Greg Koseluk at greg.koseluk@debankers.com