DBA Digest for January 27, 2023


Featuring an Amazing Lineup of Expert Speakers!

2023 Compliance School - February 8th -

In-Person and Online!

Don't miss the DBA Regulatory Compliance School, February 8, 2023, 9:00 a.m. to 4:00 p.m. The agenda is new for 2023 facilitated by a dynamic lineup of expert panelists and speakers. Attend online or at the Wilmington University Brandywine Campus in Wilmington. Get the latest information on the trends and topics you need in the ever-changing regulatory compliance environment. Sessions and topics include: Regulatory Panel Discussion, BSA/AML, Fraud Mitigation, and more! seven (7) DE & PA CLE Credits, CPE and CRCM Credits Applied For. DBA Members pay just $699 ($899 for non-members). See the full agenda and speaker lineup via the link below. Register today!


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 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.

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. 



Operation Hope and Fulton Bank Partnership Generates Nearly $1 Billion In Loans To Low- And Moderate-Income Homebuyers

Operation HOPE recently recognized Fulton Bank, a subsidiary of Fulton Financial Corporation, for providing nearly $1 billion in loans to low- and moderate-income homebuyers over the past seven years.


“We’re pleased to partner with organizations like Fulton Bank that understand the importance of home ownership in empowering our communities,” said John Hope Bryant, Founder, Chairman and CEO of Operation HOPE. “We honored Fulton Bank for their commitment to increasing social mobility at our recent HOPE Global Forum, the largest gathering of its kind, dedicated to expanding financial inclusion for everyone.”


In 2016, Fulton Bank began collaborating with Operation HOPE, a leading non-profit focused on financial literacy and economic inclusion. Fulton Bank participates in the Closing Cost Assistance Program, which provides grants to buyers to help with the up-front costs of purchasing a home. Fulton also sponsors Operation HOPE financial wellness coaches in six cities throughout its footprint. The coaches provide free education to consumers, focusing on improving their credit and preparing them for the financial aspects of home ownership.

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Bank of America Private Bank Market Minute

Courtesy of weakening economic data and Q4 earnings reports, Equities finished mixed for last week. The Dow Jones Industrial Average and S&P 500 suffered their first weekly declines of the new year, falling 2.7% and 0.6% respectively, while the Nasdaq Composite gained 0.6%. Various Federal Reserve (Fed) officials spoke out regarding the central bank’s next policy decision. Fed Governor Christopher Waller said policy looks pretty close to sufficiently restrictive, while supporting a moderation in the size of rate increases. St Louis Fed President James Bullard supported a rapid rise in interest rates above 5% to avoid any resurgence of inflationary pressures. Fed Vice Chair Lael Brainard argued that rates will have to remain restrictive “for some time” to ensure inflation comes back down to its 2% target. As a sign that the economy is slowing, December 2022’s retail sales posted its biggest drop of the year. Purchases at stores, restaurants and online declined a seasonally adjusted 1.1% in December from the prior month. The National Association of Realtors recorded 2022 sales of previously owned homes—most of the U.S. housing market—fell to their lowest level since 2014. Headlines around the ongoing debt-ceiling debate also littered last week since last Thursday the U.S. officially hit the debt ceiling of $31.4 trillion forcing accounting maneuvers to fund federal obligations. Out this week, the first look at Q4 U.S. Gross Domestic Product (GDP) is due, along with durable goods orders for last month and the December Leading Economic Index (LEI). As for consumer releases, personal income and spending and the Personal Consumption Expenditures (PCE) Price Index is due, as well as the final read on January’s University of Michigan's Consumer Sentiment Index.

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Belfint Lyons & Shuman, CPAs Promotes Team Members

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


Emily Bowman and Austin Kingsley have been promoted to Staff II Accountant. Emily Bowman joined the firm as an intern in the summer of 2020 and continued as a full time team member in January 2021 in the Rotational Development Program.

Austin Kingsley, CPA joined the firm in September 2021 and specializes in the firm’s government and nonprofit practice groups.

Katie Andrews has been promoted to Visual Communications Specialist.

Katie Andrews joined the firm in February 2020 and is a graduate of Wilmington University where she earned a Bachelor of Science degree in Media Communication.

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US Secretary of Energy Jennifer M. Granholm to Address CERAWeek by S&P Global in Houston, March 6-10

U.S. Secretary of Energy Jennifer M. Granholm will address delegates at the 41st annual CERAWeek by S&P Global, March 6-10 in Houston. Secretary Granholm will join the world’s energy industry leaders, experts, government officials and policymakers, as well as leaders from the technology, financial and industrial communities addressing this year’s conference.

“We are pleased again to welcome Secretary Granholm to CERAWeek,” said Daniel Yergin, conference chair and Vice Chairman of S&P Global. “At a time of great turbulence in energy, her perspective will be an important and timely contribution to the critical dialogue about energy and policy. Her central role on the implementation and direction of major U.S. legislation—such as the Inflation Reduction Act and the Infrastructure Investment and Jobs Act—will be a source of great interest. Since delivering her inaugural energy address as U.S. Secretary of Energy at CERAWeek 2021, her participation has been a significant contribution to CERAWeek and has great impact.”

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Troutman Pepper Insights: What We Learned From 2022’s Top FCRA Developments

The Fair Credit Reporting Act saw no shortage of activity in 2022. That activity included judicial decisions, regulatory actions, and federal and state legislation. As we reflect on certain significant developments from the past year, FCRA litigants and practitioners should be prepared for a busy 2023.

In the wake of the U.S. Supreme Court’s 2021 FCRA decision TransUnion LLC v. Ramirez,[1] the type of harm required to confer Article III standing to sue under the FCRA remained a focus at both the federal and state levels, and FCRA standing decisions will have continuing impact on litigation in 2023.

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Greg Koseluk at greg.koseluk@debankers.com