DBA Digest for July 15, 2022

Only Three Weeks Left to Save!


Save $200 on full access registration to the 2022 Delaware Trust Conference now through August 5th! The 2022 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streaming, on October 18 & 19, AND on-demand through November! The agenda is filled with a stellar lineup of speakers.  18 CLE credits are available, including 2.0 ethics credits. Follow the links below to view the agenda and register.


The List of Sponsors Keeps Growing!

(Is Your Company Represented?)

Join the prestigious Sponsors and Exhibitors for the 2022 Delaware Trust Conference Make sure your firm is represented alongside these companies.

Platinum Sponsor:

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

Diamond Sponsors:

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

Connolly Gallagher


Gordon, Fournaris & Mammarella

McCollom D'Emilio Smith Uebler LLC

Richards, Layton & Finger, P.A.

Young Conaway Stargatt & Taylor LLP

Gold Sponsors:

BMO Delaware Trust Company

Charles Schwab Trust Company

Morris, Nichols, Arsht and Tunnell

The Northern Trust Company of Delaware

Wilmington Trust

Silver Sponsors:

Chilton Trust

CommonwealthTrust Company

First StateTrust Company

Greenleaf Trust


Santora CPA Group

Bronze Sponsors:

Bank of America, Private Bank

Belfint, Lyons and Shuman, P.A.



Weiner Benefits Group

See all the sponsorship benefits and download the Exhibitor's Book on the conference webpage.

Trust Conference Webpage

Business Writing Workshop!

On-Line - August 3rd

Corporate communicators value this highly interactive workshop designed to resolve two of the biggest written communication challenges: writing more effective documents while following a more efficient process. Practical, lively exercises help increase skills in Paragraph Performance from introductions to conclusions, Sentence Sense, Word Wisdom, and Format Force. A review of practical grammar and punctuation rules is included. Documents and messages will look, sound, and feel more professional!

Workshop Objectives: 

• Identify varied audiences and purposes for writing;

• Polish rough edges of writing style in paragraphs, sentences, words, and format;

• Write more effective documents while following a more efficient writing process; and

• Apply course concepts to actual writing samples.

Cost: $199/per person ($249/non-members)


Bank of America Market Minute

Major indexes rose last week despite mixed economic data over a holiday-shortened week. The S&P 500 gained 1.9%, the Dow Jones Industrial Average rose 0.8%, and while the Nasdaq Composite Index climbed 4.6%. The NASDAQ managed five consecutive up days, its longest winning streak since November 2021. Last week showed mixed performance at the sector level as six of the 11 S&P 500 sectors fell, led by declines in Energy, Materials and Utilities, while Consumer Discretionary and Communication Services rose the most. In economic news, Labor Department figures showed a seasonally adjusted 11.3 million job openings in May, a decline from 11.7 million the prior month. Friday’s payrolls report from the Labor Department showed employers added 372,000 nonfarm jobs in June, well above consensus expectations, while the unemployment rate remained at 3.6%. The stronger-than-expected jobs report lifted the yield on the benchmark 10-year U.S. Treasury note to roughly 3.08% by the close of trading on Friday. The U.S. trade deficit in goods and services shrank to $85.5 billion in May, narrowing for the second consecutive month and down from the prior month’s revised $86.7 billion. Notable economic releases due this week include the Consumer Price Index (CPI), Producer Price Index (PPI), June retail sales figures, and the University of Michigan Consumer Sentiment Index.

Full Story

Northern Trust Market Insights - July  19, 11 a.m.

Join Northern Trust's experts for their quarterly exclusive, virtual discussion on the latest market and economic developments – and what they mean for investors, your portfolio and our outlook July 19, 2022 at 11 a.m. ET


ABA Foundation, Montana Bankers Partner to Support Flood Victims

Following devastating floods that struck Montana communities in and around Yellowstone National Park in June, the American Bankers Association Foundation has partnered with the Montana Bankers Association to support relief efforts. At MBA’s request, the ABA Foundation is collecting donations from across the country to support the Montana Community Foundation.

One hundred percent of the funds raised through the ABA Foundation’s Disaster Relief Program will support local relief efforts. Donations will be accepted until Aug. 8, 2022, and all contributions are tax deductible.

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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.

Gordon, Fournaris & Mammarella, P.A. Listed in 2022 Chambers High Net Worth Guide

Gordon, Fournaris & Mammarella, P.A. (GF&M) is ranked as Band 1 in Private Wealth Law for the sixth time in this year’s Chambers High Net Worth (HNW) guide. “They are my go-to for any Delaware-based questions,” one source observes. GF&M is also noted to be “very good at navigating complicated and tricky trust and estate matters and are absolutely top-notch for [High Net Worth] clients.” GF&M has consistently had four attorneys individually ranked as notable Private Wealth Law practitioners by the HNW guide. For 2022, the individually ranked attorneys for Private Wealth Law are: Peter Gordon (Band 1), Michael Gordon (Band 2), Daniel Hayward (Band 2), and Kimberly McKinnon (Band 2). This year, GF&M is excited to announce a fifth GF&M attorney, William Kelleher, has been ranked Band 1 in Private Wealth Disputes. To read more of what interviewees said about GF&M’s ranked attorneys, click here: Gordon, Fournaris & Mammarella PA, Private Wealth Law | Chambers High Net Worth Profile.

Chambers HNW 2022 Recognizes Connolly Gallagher for Delaware Private Wealth Law

In its 2022 guide, Chambers High Net Worth ranked Connolly Gallagher LLP for Private Wealth Law in Delaware. Sources report the Trusts & Estates team is “consistently responsive and delivers on deadlines.” As one interviewee stated: “Their service goes above and beyond.

Three Connolly Gallagher attorneys appear in the individual rankings of leading Delaware Private Wealth Law lawyers, with Gregory Weinig recognized for the third year in a row in Band 1 for Private Wealth Law. In addition, Scott Swenson has again been recognized in Band 1 for Private Wealth Disputes.

Comments from those interviewed for the guide reflect the Trusts & Estates team’s commitment to client service.

  • Chuck Durante is “a true professional” and “his aptitude for remembering complex situations and applying accurate and meaningful advice has been incredibly valuable.”
  • Trisha Hall is “a warm and thoughtful counsellor who holds herself to the highest standards with respect to professionalism and technical expertise.”
  • Scott Swenson is “a personable and knowledgeable practitioner in the area of trust and estate planning. When I refer people to Scott, I am confident that they will receive excellent service as well as engaged and considerate counsel.”
  • Gregory Weinig “is excellent,” and “he is thoughtful and pragmatic in his work. He is a highly skilled trust and estates attorney who is really well liked in the community.”

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Whisman Giordano & Associates Wins Best of Accounting Award for Client Service 

Whisman Giordano & Associates LLC, has won 2022 Best of Accounting Award for Client Satisfaction. Clearly Rated hosted the survey. ClearlyRated's Best of Accounting® Award winners have proven to be industry leaders in service quality based entirely on ratings provided by their clients. On average, clients of 2022 Best of Accounting winners are 60% more likely to be satisfied than those who work with non-winning firms.

  • Whisman Giordano & Associates received satisfaction scores of 9 or 10 out of 10 from 93.3% of their clients, significantly higher than the industry’s average of 53% in 2021.


President and Managing Director Joseph V. Giordano says, " This award means so much to our firm because it is based solely on client satisfaction. We won this award by showing up daily for our clients. Our firm's motto is Building Extraordinary Relationships, and we work hard to serve our clients with not only the best technical information possible but also a pleasant and personalized experience."


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Richards, Layton & Finger Elects

New Directors and Counsel

Richards, Layton & Finger is pleased to announce its election of attorneys Matthew Perri and Drew Sloan as directors of the firm and Jake Crosetto as counsel of the firm.

“We are proud to promote these exceptional lawyers,” said Lisa Schmidt, president of Richards, Layton & Finger. “Backed by their skills, experience, and commitment to excellence, they each provide our clients with the outstanding service and top-notch legal counsel that are the hallmarks of our firm.”

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Ballard Spahr Insight: Trade Groups Take Aim at CFPB’s Expansion of UDAAP Authority

Four leading trade groups are calling on the CFPB to rescind the recent updates to the UDAAP section of its Supervision and Examination Manual that instruct examiners to consider discrimination in connection with non-credit products and services as an unfair act or practice. The four groups are the American Bankers Association, the Consumer Bankers, the Independent Community Bankers of America, and the U.S. Chamber of Commerce.

The trade groups made their request in a letter to Director Chopra, which was accompanied by a white paper setting forth the legal basis for their position: “Unfairness and Discrimination: Examining the CFPB’s Conflation of Distinct Statutory Concepts.”

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Greg Koseluk at [email protected]