DBA Digest for June 27, 2025

The Delaware House of Representatives reached a compromise to advance “The Equity and Inclusion in Financial Literacy for All High School Students in Delaware Act.” The bill, sponsored by a bipartisan group of representatives and senators, requires high schools to provide, at a minimum, a half-credit of financial literacy. If passed and signed into law, the bill would take effect for students entering 9th grade in the 2026-27 school year to successfully complete the credit to graduate high school. This Act requires the credit to include instruction which meets the financial literacy standards for high school students adopted by the Department of Education.

An independent study conducted last year by Tyton Partners estimated that a half-credit financial literacy course in Delaware would add an estimated $116,000 benefit to each student. A financial literacy bill has been introduced in each of the last three legislative sessions.

We want to thank all those supporting this important legislation moves as it moves closer to passage. Representative Jeff Hilovsky deserves a tremendous amount of credit for his perseverance and tenacity in finding a bipartisan solution to make Financial Literacy a reality for all Delaware Children.

AHP Online Now Open for 2025 Application Input

The 2025 funding round for the Affordable Housing Program (AHP) and voluntary housing grant initiative is now open with approximately $57.5 million in available funding for AHP and $17 million for the voluntary housing grant initiative. All 2025 forms, guides and application attachments are currently available on FHLBank’s website. Forms may be downloaded, completed, and then uploaded to AHP Online.

Community Bank Delaware Announces the Appointment of Christian Hudson to its Board of Directors

Community Bank Delaware is pleased to announce the appointment of Christian Hudson to its Board of Directors. With an extensive background in board leadership along with his history within the financial sector, Mr. Hudson brings a wealth of experience and governance to the bank.

“We are thrilled to welcome Christian to our board,” said Alexander J. Pires, Jr. Chairman and CEO at Community Bank Delaware. “He has a proven track record in finances, risk management, and regulatory compliance and we are confident that his expertise will be instrumental in driving Community Bank Delaware forward.”

Prior to joining Community Bank Delaware’s board, Mr. Hudson held key positions at Beebe Medical Foundation, and Delmarva Christian High School where he spearheaded initiatives strengthening board governance standards and capital fundraising.

Virtual Event! ABA Women Lead Symposium - July 17th!

Don't miss the Women Lead Symposium, July 17, a convenient virtual program

designed to help emerging leaders and seasoned professionals become successful leaders.

This joint effort between the American Bankers Association, the Delaware Bankers Association, and other state bankers associations will help you gain critical leadership skills that will support your bank’s growth goals and advance your career. You’ll learn leading practices and actionable insights to navigate key positions at your bank and foster workforce excellence. You’ll walk away with leadership resources and a strong professional network!

See the full agenda and registration information via the link below!

2025 Delaware Trust Conference - October 28 & 29 - Sponsorships and Exhibitor Spaces Now Available!

Sponsorships and exhibitor spaces are now available for the 2025 Delaware Trust Conference, to be held October 28th and 29th at the Chase Center on the Riverfront and Live Stream. Join these prestigious sponsors and exhibitors:

Platinum Sponsor

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

Diamond Sponsors

Gordon, Fournaris & Mammarella, P.A.

McCollom D'Emilio Smith Uebler LLC

Gold Sponsor

Morris, Nichols, Arsht & Tunnel LLP

Silver Sponsors

Morris James LLP

Pinion

Santora CPA Group

Bronze Sponsor

Duane Morris LLP

Exhibitors

Campbell University Trust and Wealth Management Program

Delaware Community Foundation

Fiduciary Education Foundation

JTC Trust Company (Delaware) Limited

Pinion

Don't Miss These Upcoming OnCourse Learning Webinars!

Loan Structuring Basics - July 9th

As commercial and middle market lenders know, loan structure has an important influence on the repayment of loans. In this webinar, we’ll discuss the different types of loans: seasonal, term, bridge, and permanent capital, and how to properly structure a loan. We’ll also provide strategies for explaining loan structuring decisions to your customers.

Audience: This session is ideal for anyone who works in commercial or middle market lending, including senior lenders, commercial lending officers, relationship managers, portfolio managers, financial analysts, underwriters and loan review personnel.

Red Flags for Money Laundering - July 10th

The criminal enterprise is using financial institutions to move money that is disguised through our institutions. Don’t let the criminals use yours. Train your staff with this important BSA training tool and use it as part of your annual training program.

Audience: This session is ideal for BSA officers, BSA investigators, SAR reporting staff, compliance, security and training.



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

Richards Layton Names Paul Heath as President, Chooses New Leadership Team

Paul Heath

Jeff Moyer

Matthew Criscimagna

Richards, Layton & Finger is pleased to announce the election of Paul Heath as the firm’s new president, effective July 1. He will succeed Lisa Schmidt, whose three-year term concludes at the end of this month. Joining Paul on the new leadership team are Jeffrey Moyer as executive vice president and Matthew Criscimagna as senior vice president. 

Richards Layton’s leadership structure is unique among law firms. Candidates are chosen by a vote of their peers and serve three-year terms. The president, executive vice president, and senior vice president work as a team, bringing their individual perspectives and a collaborative approach to leadership decision making.

“Richards Layton has a rich tradition of delivering both outstanding client service and unsurpassed legal counsel,” Paul said. “I’m mindful of the amazing lawyers that have come before me at the firm, and how much we have all benefitted from their expertise, their dedication, and their hard work.”

Bank of America Private Bank Market Minute

The U.S.’ airstrikes on three nuclear sites in Iran over the weekend are likely to dominate headlines this week. Oil futures and the dollar rose heading into Monday morning while stock futures flirted with positive territory.1 Last week, major U.S. Equity Indexes were mixed as markets digested ongoing developments in the Middle East. The S&P 500 (-0.2%), Nasdaq Composite (+0.2%), and Dow Jones Industrial Average (+0.0%) each finished the holiday-shortened week essentially flat. Despite underperforming International Equities year-to-date, the Nasdaq Composite closed last Friday 10.5% higher than Liberation Day, outperforming both the MSCI EAFE Index and the MSCI Emerging Markets Index by 4.2% and 3.5% over the same period, respectively. In U.S. economic news, the Federal Open Market Committee held its policy interest rate steady at 4.25% to 4.50% last week, as expected. Versus prior projections, the Federal Reserve’s (Fed) updated quarterly Summary of Economic Projections suggested the committee now expects slower growth and higher inflation in 2025 and 2026 but continues to forecast two 25 basis point (bps) cuts this year.

Abigail Quinn Joins Gordon, Fournaris & Mammarella

GF&M is excited to announce that Abigail Quinn has joined the firm as an Associate.

Abigail earned both her Juris Doctor and MBA from Delaware Law School and Widener University in December 2024 and was admitted to the Delaware Bar on June 25, 2025. Abigail has been an integral part of our team since joining the firm as a law clerk. Her hard work, dedication, and professionalism have consistently impressed us, and we are so proud to see her reach this important milestone. 

GF&M is proud to celebrate this achievement with Abigail and looks forward to her continued success as she embarks on her legal career.