DBA Digest for December 10 , 2021
2021 Regulatory Compliance School
December 15: BSA/AML
On-Demand: Lending Compliance & Hot Topics

Compliance professionals: get all the updates you need to face the regulatory challenges of 2021. Attend the DBA Regulatory Compliance School: In-person, Virtually, and On-Demand. The first session of the school on Lending Compliance and Hot Topics was held Thursday, December 9th, and will be available for on-demand viewing next week. The second session featuring BSA/AML will be held Wednesday, December 15. Both sessions will be in-person at the Wilmington University Brandywine Campus. The agenda is filled with the most up-to-date regulatory information on Lending, Deposits, BSA/AML, and more! Get the same amount of content with greater convenience and at a lower price! $999 for DBA members ($1499 for non-DBA-members).

Presenting Sponsor: Troutman Pepper
Back in Person! Women Connect Happy Hour!
Women Connect celebrated its first in-person event, December 8 at Makers Alley in Wilmimgton. In addition to much-missed networking, attendees enjoy an open bar, live music, cornhole, and light appetizers. Thank you to sponsor Wilmington Trust!
Artisans' Bank Colin Price Receives 2021 BRAD Associate of the Year Award
Artisans' Bank’s VP of Commercial Lending Colin Price has been announced as the 2021 BRAD Associate of the Year! Mr. Price joined the bank in 2002 and worked with consumers in the retail offices. He transitioned to the commercial lending department in 2014 and became a member of BRAD in 2019.  His favorite part about working with commercial clients is meeting new people, learning about their business, and finding ways he can be of assistance to them with their banking and lending needs. Builders & Remodelers of Delaware(BRAD) is a professional association committed to promoting excellence in building initiatives in Delaware.
American Bankers Association Announces Under 40 in Wealth Management Awards - Three Delaware Bankers Recognized
Two Delaware bankers were recognized in the ABA's Under 40 in Wealth Management. Congratulations to Steven Dunn, Financial Advisor, WSFS Wealth Investments, Millsboro, Delaware; Erin Markham, Vice President & Senior Trust Officer, Chilton Trust Company, N.A., Wilmington, Delaware; and, Cody Snyder, Vice President, Senior Trust Counsel, Christiana Trust Company of Delaware, a Subsidiary Of WSFS Financial Corporation.
Shore United Bank sponsors
Chapel District Sports League
shore
Shore United Bank presents check for sponsorship of Chapel District Sports League
(Left) Kyle Golt – President of the Chapel District Sports League; (Right) Robin O’Brien – Vice President & Relationship Manager at Shore United Bank.
Shore United Bank is proud to be an outfield sign sponsor for Chapel District Sports in Cordova. This sponsorship will help to fund the program’s field maintenance and equipment budget to ensure a safe environment for children, help develop their athletic skills, and provide new opportunities for players and coaches.
“We are very thankful for the support of our sponsors who have helped us accomplish so much over the years. Without the support of community partners like Shore United Bank, we would not be able to reach our goals for the organization and support the children in the Chapel District,” said Kyle Golt, Chapel District Sports League President.
There Arose Such A Clatter:
The Northern Trust Economics team shares its outlook for the U.S. economy

Just one year ago, COVID-19 vaccines were not yet approved, gatherings were restricted amid surging cases, many schools and offices remained closed, and thoughts of moving past the pandemic seemed as realistic as visions of sugar plums. The transformation seen in 2021 has been historic, and the year is not ending quietly.

Inflation remains above target while economic data shows continued, robust growth. As a result, Fed officials surprised some observers with hints that they will normalize policy much more rapidly. We now expect a first interest rate increase from the Fed in mid-2022.
Federal Reserve Bank of Philadelphia - Exploring the Anchor Economy - December 14
The Federal Reserve Bank of Philadelphia is pleased to invite you to Exploring the Anchor Economy, a virtual event exploring the impacts of higher education and healthcare on local and regional economies. Join us as we discuss key aspects of anchors' role in regional economies, including driving economic growth, community development, and stabilizing rural communities. When: Tuesday, December 14, from 3:00 p.m. to 4:30 p.m. EST. Where: Virtual Webex Event.

For information on the speakers and to view the conference program, please visit the event website
Your Holiday Shopping Can Support Financial Literacy in Delaware... At No Additional Cost to You!
When you shop at smile.amazon.com, or in the Amazon app with AmazonSmile turned on, Amazon will donate a portion of your purchases to The Delaware Financial Education Alliance. You'll still find the same Amazon products and low prices you are used to. Simply enroll by visiting: smile.amazon.com/ch/22-2549908
You can select The Delaware Financial Education Alliance as your AmazonSmile charity by visiting: smile.amazon.com/ch/22-2549908
Business Writing & Grammar Courses -
Virtual Live: January 12, 2022, and January 26, 2022
The Delaware Bankers Association/Delaware Financial Education Alliance is offering two virtual courses on Business Writing and Grammar. Both courses are being facilitated by Linda Comerford with Comerford Consulting. Attendees will be able to refine and enhance their professional writing abilities through this training program.

Business Writing Workshop -
January 12, 2022 – 9:00 am – 4:00 pm

Taking the “Grr” Out of Grammar -
January 26, 2022 – 9:00 am – 12:00 pm

Click on the link below for full details on these two courses!
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.
Santora CPA Group Announces
Three Additions to its Team
Santora CPA Group, a Newark-based Certified Public Accounting and Consulting firm, is pleased to announce the following additions to its team:
 
John R. Mraz, CPA (above left) has joined SCG as an Audit Manager in the A&A Department. He is a graduate of the University of Delaware with a Bachelor of Science degree in Accounting.

William J. Duggan, CTFA (above center) has joined SCG’s Trust Services Team as a Senior Trust Administrator. He brings with him 10 years of Trust industry experience. 

Kandace E. Wallace, MBA (above right) has joined SCG as a Bookkeeper in the Small Business Services Department. She is a graduate of West Virginia University with a Bachelor of Science degree in Forestry, as well as a Master of Business Administration degree from Western Governor’s University.
Richards, Layton & Finger Update: Minimum Wage Increased to $15 Per Hour for Federal Contractors
On November 22, 2021, the U.S. Department of Labor issued a Final Rule that increases the minimum wage for employees who work on federal contracts to $15 per hour, implementing an executive order that President Biden executed on April 27, 2021. This rule will take effect on January 30, 2022. It applies in all 50 states, the District of Columbia, and certain U.S. territories. 

In addition to raising the minimum wage, the rule continues to index the federal contract minimum wage in future years to inflation, eliminates the tipped minimum wage for federal contract employees by 2024, and ensures a $15 minimum wage for employees with disabilities performing work on or in connection with covered contracts. The new requirements do not apply to federal contracts entered into prior to January 30, 2022, but a provision mandating the increased minimum wage must be inserted when such contracts are renewed or extended. The definition of contracts includes subcontracts and overall is very broad, extending, for example, to procurements, service agreements, and lease agreements.

Troutman Pepper Advisory: Think Fast: Banking Regulators Release Final Computer-Security Incident Notification Requirements
On November 18, federal banking agencies issued the long-awaited final rule, establishing data security incident response notification requirements for “banking organizations” and “bank service providers” (terms defined below). Included in this rule is a headline-grabbing 36-hour regulatory notification requirement for banking organizations. This final rule is set to take effect on April 1, 2022, and entities are required to comply by May 1, 2022. Covered entities should begin analyzing their breach response procedures now to ensure timely compliance.
Sign Up Now! Two On-Line Courses:
Fundamentals of Commercial Banking; and,
Analyzing Repayment Sources!
The Delaware Bankers Association & Delaware Financial Education Alliance has partnered with Andy Keusal with Keusal Learning LLC to offer two new online Breaking into Banking videos:

  • Breaking into Banking 101: Fundamentals of Commercial Banking - ten learning modules, over 5 hours in total content

  • Breaking into Banking 201: Analyzing Repayment Sources - nine modules covers topics including how to analyze income statements, balance sheets, collateral, and risk rating.

Each module includes a video lesson and a multiple-choice self-check. Many of the lessons include exercises/case studies for learners to work through that are related to a sample company outlined in the course’s Reference Guide.

Get the full details, including an introductory video at the link below.
We want to hear from you! Please send your news items to
Greg Koseluk at greg.koseluk@debankers.com