DBA Digest for February 7, 2025

Banker Volunteer Registration Now Open for

2025 Teach Children to Save Day!

Registration is now open for banker volunteers to teach a lesson for this year's Teach Children to Save Day event, April 7th through 11th! Teaching is fun and easy with complete materials and training provided. Bankers can volunteer and receive detailed information via the link below.

This year's lesson is taken from the new comic book, The Savings Genie, featuring The Great Investo, Penny, and The Mystical Saveroo. The book will teach the importance of saving for a financially independent future. The comic book is made possible through the generous sponsorship of Barclays, Wells Fargo, WSFS, Bank of America, TD Bank, Artisans' Bank, Fulton Bank, M&T Bank, Visa, Comenity Bank, County Bank, First Citizens Community Bank, and Shore United Bank!

2025 DBA Washington Visit - March 5-7!

Last Call for Sponsorships!

Sponsorship opportunities end today, February 7th, for the DBA Senior Executive Washington Visit, March 5 to 7. Sponsorship opportunities are open to all associate members who would like to participate in the event. Join these prestigious sponsors: Sallie Mae, Capital One, Federal Home Loan Bank of Pittsburgh, Richards Layton & Finger, Discover, and WSFS!

Sponsorship includes opportunities for representatives from your ­firm to select to attend any of the following:

• Wednesday March 5th reception and dinner. 
• Thursday March 6th luncheon.
• Thursday March 6th evening reception. 

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.

Don't Miss These Upcoming OnCourse Learning Webinars!

Alert! Proposed BSA/AML Program Rule Changes - February 11th

During this webinar, we will go over the July 3, 2024 notice of proposed rulemaking. These changes will affect many areas of your BSA/AML program. Much of this will be in the big picture of your BSA/AML program, including regulating risk assessments and many other issues. Many of you have been waiting for the AML Act of 2020 to be codified and here it comes.

Audience: BSA officers, BSA staff, compliance staff, management, risk departments, and training will all benefit from this session.

Health Savings Accounts: Financial Institution vs. Customer Responsibility - February 12th

While many financial institutions have offered custodial retirement accounts like IRAs for years, the custodial Health Savings Accounts have some major differences as far as the institution’s responsibility in handling transactions. The question becomes, “Where do we draw the line between institution responsibility and customer responsibility?” In this two-hour informational webinar, we will answer these questions and make suggestions on how to handle your HSA accounts with less stress.

Audience: This session is ideal for any CSR or teller who opens and processes HSA transactions, the operations department, and call center personnel who answer customer questions regarding the HSA rules and regulations.

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

Bank of America Private Bank Market Minute

Major U.S. Equity indexes were mixed last week as investors digested the implications of China’s Artificial Intelligence (AI) startup DeepSeek, tariff announcements, Q4 2024 earnings reports, Fedspeak, and important U.S. economic data releases. The S&P 500 and Nasdaq Composite declined 1.0% and 1.6% over the week, respectively, while the Dow Jones Industrial Average managed a 0.3% gain. Still, the three indexes capped monthly gains for January. Breadth improved over the month as the S&P 500 rose 2.7%; its equal-weighted benchmark was up 3.4%. Sector-wise, Technology (-2.9%) emerged as the worst performing sector in January whereas Communication Services (+9.0%), Healthcare (6.6%), and Financials (6.4%) outperformed. Mid-week, the Federal Open Market Committee voted to hold the fed funds rate steady at its current 4.25% to 4.50% range. Chairman Powell affirmed that there’s “no hurry” to cut rates further. In U.S. economic news, headline personal consumption expenditures (PCE) inflation registered in line with expectations for December, up 0.3% over the month and 2.6% over the year. Its core measure rose 0.2% in December and 2.8% year-over-year (YoY) for the third consecutive month. The first estimate of Q4 2024 real gross domestic product (GDP) growth came in at 2.3% annualized over the quarter, below consensus expectations for 2.6% while consumption growth beat expectations at 4.2%. YoY, real GDP grew 2.5% in 2024 versus 3.2% in 2023.

Recent Trends in Bank and Consumer Fraud Webinar - February 25, 2025, 11 - Noon

For every dollar lost to fraud, U.S. financial institutions are out more than $4 — with global losses approaching the trillions. Join the Federal Reserve Bank of Philadelphia for a panel discussion, Recent Trends in Bank and Consumer Fraud. At this webinar, you’ll learn from local experts who will provide up-to-date information to help you keep your business and customers safe. Topics will include: elder, account, check, and authorized push payment (APP) fraud; identity theft; and, AI-assisted frauds and scams. 

Register via the link below. Note: this webinar is for Banks only.

BLS CPAs Celebrates Team Member Promotions

Belfint, Lyons & Shuman, P.A. (BLS), a Top 300 certified public accounting and consulting firm headquartered in Delaware, announces multiple well-earned promotions.



Elizabeth (Liz) Wyjadka, CPA, CFE has been promoted to Supervisor in the firm’s Government Audit Practice Group

Noah Raine has been promoted to Senior Accountant in the firm’s Government Audit Practice Group

Saloni Bhavsar and Cristina (Cris) Castillo have been promoted to Staff II Accountant in the firm’s Tax & Small Business Practice Group

Cinnaire Closes $190 Million Low-Income Housing Tax Credit Fund

Cinnaire has announced the closing of the Cinnaire Fund for Housing Partnership 42, a $190 million multi-investor Low-Income Housing Tax Credit (LIHTC) fund. This significant milestone will support the creation or preservation of 1,478 affordable multifamily homes across 21 properties, serving over 3,400 individuals. Notably, for the first time in its history, Cinnaire is investing in communities spanning from Wisconsin to Delaware within a single fund.

The fund's developments include 284 units designated for seniors and individuals with special needs, ensuring that vulnerable populations have access to safe, quality, and affordable homes.

University of Delaware Generative AI for Business Certificate

Apply your employer’s tuition benefit to shape the future of business with Gen AI.

Have you considered how a University of Delaware graduate business certificate in Gen AI for Business can enhance your skills and knowledge and keep you updated on the latest changes in your field? Consider using your employer’s tuition benefit toward UD’s Graduate Certificate in Generative AI for Business offered by the Alfred Lerner College of Business and Economics. This graduate certificate is designed for managers, analysts and other business leaders interested in advancing their projects and careers by mastering new Gen AI technologies. Learn at your pace in an online format and complete the program in as little as a year. 

Use your tuition benefit to start your program this spring! The enrollment deadline is March 1 and classes start March 31.