DBA Digest for August 2, 2024

2024 Delaware Trust Conference:

FINAL DAY TO SAVE $300

on Discounted Registration!

Ends Tonight, August 2nd!

Today, August 2nd, is the final day to take advantage of discounted Early-Bird Registration for the 2024 Delaware Trust Conference. Save $300! The 2024 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streamed, October 28 and 29. The sessions will also be available on-demand through November!

Delaware Trust Conference:

Join These Prestigious Sponsors!

Sponsorships and Exhibitor Spaces are now available for the 2024 Delaware Trust Conference! Join prestigious sponsors: 

Platinum Sponsor

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

Diamond Sponsors

Connolly Gallagher

Glenmede

Gordon, Fournaris & Mammarella

McCollom D'Emilio Smith Uebler

Richards Layton & Finger

Rockefeller Trust Company

Young Conaway Stargatt & Taylor

Gold Sponsors

BMO Delaware Trust Company

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

Charles Schwab

Morris Nichols Arsht & Tunnell

The Northern Trust Company of Delaware

Wilmington Trust

Silver Sponsors

BNY Wealth

Chilton Trust

CIBC Delaware Trust Company

Commonwealth Trust Company

Greenleaf Trust Delaware

Pinion

Santora CPA Group

U.S. Trust Company of Delaware  

Bronze Sponsors

American Bankers Association

Belfint Lyons & Shuman

Duane Morris

JTC

Exhibitors

Delaware Community Foundation

FideliTrade Incorporated

Koplin Consulting

National Care Advisors

Pinion

Weiner Benefits Group

2024 FDIC Directors' College - September 11

Registration is now open for the 2024 FDIC Directors' College, September 11, 8:00 to 1:00, at the Old Location – University of Delaware Virdin Center, 1155 College Drive, Lewes, 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: Identifying Redlining Risk; Liquidity Contingency Planning and Risk Mitigation; Risk Assessments - The Basics, the Benefits, and the Pitfalls; Conversation with Regulators; and an Economics/Banking Update. Lunch is also included. Please click on the link below to view the detailed agenda and to register.

Upcoming OnCourse Learning Webinars!

Community Reinvestment Act (CRA) Deep Dive - All Day Streaming - August 6th

6 CRCM Credits

This all-day streaming session will go over the details of the new Community Reinvestment Act (CRA) and point out important differences between it and current requirements. We’ll discuss who has to do what and when, and we’ll set the stage for individual banks’ formation of working groups and stakeholder meetings, so you can understand how these changes impact your bank. We’ll pay particular attention to the timeframes involved, as implementation will be somewhat of a phased process. 

New BSA Officer Training - September 3rd

You have been appointed as the new Bank Secrecy Officer for your bank. You now feel like a deer caught in the headlights - what to do, where to start, who can help? 

Audience: This webinar is designed for new BSA Officers, BSA coordinators, and those who assist BSA Officers such as Security, OFAC and Compliance Officers. 

Learn more and browse all the webinars via the link below.

Artisans’ Bank Promotes Julia M. McDerby to

Senior Vice President, Chief Human Resources Officer

Artisans’ Bank is pleased to announce the promotion of Julia McDerby to Senior Vice President, Chief Human Resources Officer. In her position, McDerby is responsible for the Human Resources Division which encompasses talent acquisition and development, benefits and payroll administration, HR technology, employee relations, and culture and inclusion.

McDerby joined Artisans’ Bank as a Relationship Banker in 2005 and was promoted to Branch Manager in 2007, where she provided best-in-class customer service and team leadership within the Retail Administration Division. In 2015, McDerby transitioned her career to human resources management, becoming Vice President and Human Resources Director in 2018. Since joining the HR Division, McDerby has excelled in modernizing HR functions and systems, reviewing employment benefits and practices, and navigating the employment landscape.

Fulton Bank Receives Secretary of Defense Employer Support Freedom Award

Fulton Bank has received a 2024 Secretary of Defense Employer Support Freedom Award, the highest U.S. government honor to employers for support of National Guard and Reserve employees.

"At Fulton Bank, we stand with our military community, recognizing the invaluable contributions of our Guard, Reservist, and Veteran team members,” said Bernadette Taylor, Chief Human Resources Officer at Fulton. “Through initiatives like our Military Internship Program, comprehensive training, mentorship opportunities, and Veterans Employee Resource Group, we work to ensure that veterans and active-duty service members receive the support and resources they need to thrive in the workforce and beyond."

Fulton was nominated for the award by Brett Gagnon, Chief Enterprise Architect for the bank and a Pennsylvania Army National Guard Colonel. Prior to receiving the Employer Support Freedom Award, Fulton Bank received Above and Beyond Awards from the Employer Support of the Guard and Reserve for three consecutive years.

Bank of America Private Bank Market Minute

Last Wednesday marked the S&P 500’s worst day since December 2022—and the end of the benchmark’s longest stretch without a 2% decline since 2007. The index fell 0.8% last week and remained flattish month-to-date, well eclipsed by the Russell 2000’s Index 3.5% advance last week and 10.4% month-to-date gain. The technology-heavy Nasdaq Composite dipped 3.6% last Wednesday alone, closing the week down 2.1%. Value continued to outperform growth for the third straight week, with the Russell 1000 Value Index outperforming its growth counterpart by 3.6% last week. In U.S. economic data, personal consumption expenditures (PCE) inflation rose 0.1% in June and 2.5% over the year, the lowest year-over-year reading since February. Core PCE, the Federal Reserve’s preferred inflation gauge, gained 0.2% over the month and 2.6% over the year. Also, per June’s personal income and outlays report, personal income rose 0.2% over the month while personal spending expanded by 0.3%. The first estimate of Q2 2024 real gross domestic product (GDP) growth came in at a strong annual rate of 2.8%, above consensus expectations (+2.0%) and growth in Q1 (+1.4%). Personal consumption grew more than expected, up 2.3% over the quarter.

2024 AHP and Voluntary Housing Grant Initiative Application Deadline Extended to Aug. 14

FHLBank Pittsburgh has extended the Affordable Housing Program (AHP) and voluntary housing grant initiative application deadline from Thursday, Aug. 8 to Wednesday, Aug. 14 at 5 p.m. EDT. 

FHLBank conducted system maintenance on AHP Online and resolved technical issues with users uploading attachments. As these issues persisted over several days, FHLBank has decided to extend the application deadline. For consideration in the 2024 AHP and voluntary housing grant initiative funding round, all applications must be in the “Member Approved” status no later than Aug. 14, 2024, at 5 p.m. EDT.

Should you have any questions, please contact ahp@fhlb-pgh.com

Connolly Gallagher's Trust and Estates Group Receives Highest Ranking from Chambers and Partners® in High Net Worth 2024 Guide

Connolly Gallagher's Trust and Estates Group Receives Highest Ranking from Chambers and Partners® in High Net Worth 2024 Guide/

Connolly Gallagher is proud to announce that the Trust & Estates team has been recognized with the highest honor of Band 1 for Private Wealth Law and Band 2 for Private Wealth Disputes by Chambers and Partners® in their High Net Worth 2024 Guide—one of only two Delaware firms recognized in both categories. This world-renowned, impartial research group is the definitive mark of excellence across the legal industry.In addition to the team rankings, Scott Swenson has been recognized individually in the category of Private Wealth Disputes while Charles Durante, Gregory Weinig, and Trisha Hall have been recognized in the category of Private Wealth Law for the fourth consecutive year. This is the sixth consecutive year that the Connolly Gallagher Trusts & Estates team has been recognized as a firm.

Chambers High Net Worth Recognizes Morris James -Family Law and Private Wealth Law Practices Awarded

Chambers High Net Worth has, yet again, ranked Morris James, as a leading Delaware law firm for its preeminent family/matrimonial and private wealth law practices. Four Morris James attorneys were also recognized as leading lawyers in the 2024 guide for their respective practices, as outlined below.



Delaware Family/Matrimonial - Chambers High Net Worth recognizes Morris James as being well known in Delaware for regularly advising high-net-worth individuals on a range of family and matrimonial matters. Morris James is the only firm to secure a Band 1 ranking in this practice area.

Delaware Private Wealth Law - Chambers HNW recognizes Morris James for its offering of a variety of private client services across all three Delaware counties. Chambers notes that the firm is uniquely positioned to handle estate planning, wealth management, tax and business issues, including those that involve the healthcare sector, among others.

Whisman Giordano & Associates Named “Best Accounting Firms to Work For” Three Years Running

Whisman Giordano and Associates, LLC (WGA) gratefully announces that it has been

ranked as one of the top 100 accounting firms to work for in the United States for the third time in as many years. The selection as a Best Accounting Firms to Work For is published by Accounting Today Magazine. The final ranking of WGA's position on the list will be released in early September. WGA moved up nine spots between 2022 and 2023 and is awaiting, with no measured excitement, the 2024 placement.

Whisman Giordano's Managing Director Lisa K. DeRose, CPA, says, "We feel that our workplace is great, and we see this award as justification of those feelings. Our company's motto, which we place at the heart of everything we do, is "building extraordinary relationships." Being recognized in 2022, 2023, and 2024 is evidence that we walk our talk. We are thrilled to be nationally ranked again."

Webinar - August 14 - CFPB’s Proposed Mortgage Servicing Rule Amendments

The CFPB recently issued its long-awaited proposed rule amending the mortgage servicing rules under Regulation X, with a focus on loss mitigation procedures and foreclosure protections. These changes were previewed by the CFPB as a means to streamline, and add flexibility to, the loss mitigation process, in light of the industry’s successful efforts during the COVID-19 pandemic. However, in doing so, the CFPB’s proposal also significantly expands borrower protections during the loss mitigation process, creates extensive new operational challenges for servicers, and leaves many concerning questions based on the proposed language. 

On this webinar, Ballard Spahr lawyers will discuss the regulatory and litigation impacts of the proposed rule. Wednesday, August 14, 2024, 2:00 - 3:00 PM ET

UD Trust Management Golf Classic - September 23!

Golf enthusiasts and supporters of the UD Trust Management Minor, On September 23, 2024, the UD Trust Management Minor is hosting the 2^nd Annual Trust Management Classic at Newark County Club. Sponsorship opportunities and golf registrations are available. Take advantage of the 10% early bird registration discount now until August 15, 2024. For questions, please contact Jennifer Zelvin McCloskey at lerner-trustmanagement@udel.edu