DBA Digest for February 17, 2023

2023 Teach Children to Save Day!

April 24th - 28th

Volunteer Today!

Banker volunteer registration for 2023 Teach Children to Save Day is now open! This year's event, the 25th annual, is April 24th through 28th. The majority of classrooms will be in-person! Over the years, Delaware’s bankers have taught an important lesson on saving to over 230,000 kids. Teaching is fun and easy, with complete materials and training provided. Register via the link below.


2023 Teach Children to Save Day!

Every Student Receives a Book!

Thank You Sponsors!

The Delaware Bankers Association and the Delaware Financial Education Alliance have created a 20-page comic book, especially for this year's event. Featuring The Great Investo and Penny, the story illustrates the concept of scarcity and the importance of saving for a financially independent future. All students will receive their own copy of the comic book to keep.

Bank sponsorships for the comic book and the event are welcome. Thank you to the record number of sponsors who make Teach Children to Save Day happen!


Sallie Mae

TD Bank

Wells Fargo


Artisans' Bank

Bank of America

Capital One

Fulton Bank

M&T Bank



First Citizens Community Bank

Shore United Bank

Please contact Sarah Long or Greg Koseluk for more information on sponsorship.

2023 DBA Washington Visit - March 1-3 -

Sponsorship Opportunities

After two virtual years, the DBA Senior Executive Washington Visit will once again be live and in-person in our Nation’s Capital, March 1 to 3. Expanded sponsorship opportunities are now available for our valued associate members to participate in the event. 


Sponsorship are still available and include opportunities for representatives from your ­firm to attend the following:

  • Wednesday March 1st reception and dinner. 
  • Thursday March 2nd luncheon.
  • Thursday March 2nd evening reception. The evening reception will feature a new and engaging entertainment venue.

Join sponsors: FHLB of Pittsburgh, S&P Global, Discover Bank, Richards Layton & Finger, Sallie Mae, and WSFS Bank, and take advantage of this unique networking opportunity to meet with top leaders in both the financial services and legislative realms. See the form below for full details and to reserve your organization’s place. 



DANA Announces Board Leadership Changes

Dominic Canuso

Jennifer Cho

The Board of Directors of DANA, the Delaware Alliance for Nonprofit Advancement, has elected new leadership for a two-year term beginning in 2023. Fayetta M. Blake succeeds Dominic Canuso as Board Chair.

Jennifer Cho succeeds Patti Grimes as Vice Chair. Jennifer is head of Citizenship / Community Relations for Barclays US Consumer Bank. 

“DANA has an engaged Board of Directors; I am thankful for Dominic Canuso’s and Patti Grime’s leadership, and I am thrilled to work with these Board Officers to advance DANA’s mission,” said Sheila Bravo, DANA President and CEO. 

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U.S. Economic Outlook, February 2023

Last year, we spent a fair amount of time pushing back against a prevailing negative consensus. Sentiment measures were low, recession fears were high, risk assets tumbled, and dislocations in the economy felt overwhelming. We took solace in the ongoing strength of employment and consumption. Thus far, they are still holding up.

We are starting the year with some momentum in the economic data. The beginnings of the elusive soft landing have taken shape. But now we find ourselves rebutting enthusiasm. It is far too soon to say the economy has conquered its many prevailing risks.

The COVID recovery cycle has offered many lessons in humility. Inflation could yet rise again; layoffs could yet gather more steam; a wide assortment of idiosyncratic events could yet derail the recovery. But the domestic economy is starting the year in a position to avoid recession.

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Bank of America Private Bank Market Minute

U.S. Equities posted losses for last week, with the S&P 500 capping the worst weekly performance of 2023. With the exception of Energy’s 5% advance for the week, sector performance was uniformly negative within the S&P 500. Communication Services shares were the clear laggard, dropping over 6.5% for the week. Q4 earnings season for S&P 500 companies continues to be subpar with earnings so far showing a contraction on a year-over-year basis; this would be the first contraction since 2020. The yield on the benchmark 10-year U.S. Treasury note increased solidly over the week. Economic news was light last week. On the consumer, the University of Michigan’s survey showed that consumer sentiment increased more than expected in February, rising to 66.4 from January's final reading of 64.9. The same survey showed one-year inflation expectations bumped up to 4.2% in early February from 3.9% in January. Longer-term expectations remain unchanged at 2.9% for the third straight month. Another data release showed the U.S. trade deficit widened to $67.4 billion at the end of last year as revolving consumer credit increased at its slowest pace since 2021 in December. This week’s economic calendar will be far more robust with the headliner being January’s Consumer Price Index (CPI) to be released Tuesday along with the Producer Price Index (PPI). January retail sales are also due on Wednesday, along with this year’s first Leading Economic Index reading following nine consecutive monthly declines to end 2022.

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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.

Richards, Layton & Finger Attorneys Accepted into LCLD Fellowship and Pathfinder Programs

Richards, Layton & Finger is pleased to announce that Nicole Pedi has been accepted into the 2023 Leadership Council on Legal Diversity (LCLD) Fellows Program, and Dorronda Bordley and Kinsey Lenehan have been accepted into the 2023 LCLD Pathfinders Program. The LCLD developed these programs to recognize diverse attorneys and to serve as a platform for the attorneys’ professional growth. The Fellows Program, designed for mid-career attorneys, and the Pathfinder Program, for early-career attorneys, offer tools and strategies focused on professional and personal development, relationship-building, and leadership training.

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Ballard Spahr Two-Part Webinar: A Look Back at the Highlights of the CFPB Director’s First 15 Months and What To Expect Going Forward

Having been sworn in as director of the Consumer Financial Protection Bureau (CFPB) on October 12, 2022, Rohit Chopra has now led the CFPB for fifteen months. Fueled by an expansive view of its authorities, the CFPB has pursued an active agenda under Director Chopra’s leadership and shows no signs of relenting. This approach has triggered strong pushback from the industry, with more regulatory battles expected ahead. In addition, Director Chopra will face increasing congressional scrutiny of the Bureau’s actions.

In this webinar series, we will review the highlights of Director Chopra’s first year in office, look ahead to identify which CFPB initiatives are most likely to receive priority, actions the CFPB is most likely to take in pursuing those initiatives, and the ongoing and potential legal challenges facing the CFPB.

Part 1: Monday, February 27, 2023 | 1:00 - 2:30 PM ET

This webinar will focus on announced and future issuance of regulatory guidance, use of supervisory and enforcement authority, as well as ongoing and potential legal challenges to Bureau actions.

Part 2: Tuesday, February 28, 2023 | 1:00 - 2:30 PM ET

This webinar will focus on ongoing and future inquiries and rulemaking.

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