DBA Digest for June 7, 2024

2023 Teach Children to Save Day Poster Winners!

Nitya Uppalapati, a fourth grader at Newark Charter School, was chosen as the winner of the 2024 Teach Children to Save Day Poster Contest. Students throughout the State were encouraged to create a poster on the importance of saving as part of the annual Teach Children to Save Day event. Over 100 entries were received. Nitya received $100 as the first-place winner. Two runners-up, Sylvia Gioioso, a fourth grader, also at Newark Charter School, and Cameron Cheseroni, from Immaculate Heart of Mary Elementary, both received $50 prizes. Congratulations to all the winners! See Nitya's poster above.

Save the Date! 2024 Delaware Trust Conference! Sponsorships Available!

Save the date: October 28 and 29, for the 2024 Delaware Trust Conference! Sponsorships and Exhibitor Spaces are also available! Join Platinum Sponsor: The Bryn Mawr Trust Company of Delaware (a WSFS Company), and other prestigious firms!

The 2024 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streamed, AND on-demand through November! Full agenda and early-bird registration coming soon!

Support House Bill 203 for Comprehensive Financial Education in Delaware!

House Bill 203, championed by Rep. Jeff Hilovsky, R-Millsboro, is a vital step towards bridging the financial education gap in Delaware. This legislation mandates that high school students, starting with those entering 9th Grade in the 2025-2026 academic year, complete a half-credit course in financial literacy for graduation.

Financial illiteracy can lead to unemployment, stress, and economic hardship. By ensuring every Delaware student has equal and guaranteed access to a personal finance course in high school, we can empower them to make informed financial decisions and secure their futures. Visit the link below for more information on the Bill and how you can support it.

Upcoming OnCourse Learning Webinars!

Overdraft Programs: Avoiding an Exam Disaster - June 11

This session provides a comprehensive review of OD regulatory guidance, including a discussion of how to address representment fees and overdraft fees resulting from APSN transactions in your policies and procedures. We will discuss how to develop effective policy and procedures, and best practices for handling the representment process and related fees. We'll discuss best practices for disclosures, fees, accountholder education, compliant marketing of OD programs, and ongoing monitoring of accountholder activity. We will also review OD issues identified through consumer complaints, examinations, and enforcement actions and provide recommendations for you to avoid similar mistakes.

Financial Statement Analysis - June 14

Learn how to skeptically review all of the major accounts in the balance sheet, income statement and statement of cash flows, as well as how to analyze trends in the major accounts.

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

ABA Women Lead Symposium - July 17

At the Women Lead Symposium, you’ll acquire critical leadership skills that will advance your career and support women aspiring to lead in the banking industry. This half-day, virtual program is designed to help women and allies become inclusive, successful leaders. You’ll learn leading practices and actionable insights to engender a diverse working environment that improves your bank’s bottom line. You’ll also walk away with resources and a strong professional network that support women in banking.

Fulton Bank Releases 2023 Corporate Social Responsibility Report

Fulton Bank, a subsidiary of Fulton Financial Corporation, has released its 2023 Corporate Social Responsibility Report, featuring stories and data about how the bank works to build value for its stakeholders.

“Our values are reflected in our commitment to customers, employees, communities, the environment and responsible governance,” said Curt Myers, Chairman and Chief Executive Officer of Fulton Bank. “Over our 142-year history, we’ve learned that the best way to ensure our own success is to support others’ success. We’re a purpose-driven community bank that seeks to change lives for the better.”

Bank of America Private Bank Market Minute

Last week the S&P 500 Index, Dow Jones Industrial Average, and Nasdaq Composite ended lower over the holiday-shortened week, down 0.5%, 1.0%, and 1.1% respectively. Still, major U.S. Equity indexes ended May well in the green. Rebounding from April’s losses, the S&P 500 gained 4.8% over the month with Technology, Utilities, and Communication Services as top performing sectors. The Nasdaq Composite logged its best month since November, up nearly 7% in May. Meanwhile, the equal-weighted counterpart of the S&P 500 gained 2.6% over the month. Moving in tandem, yields on the 2-year and 10-year U.S. Treasury fell more than 15 basis points (bps) over the month after climbing more than 40 bps in April. In economic news, headline personal consumption expenditures (PCE) inflation rose 0.3% in April and 2.7% over the year, in line with expectations and unchanged from March. Core PCE inflation, the Federal Reserve’s (Fed) preferred inflation measure which excludes food and energy, gained 0.2% in April and remained at 2.8% year-over-year, still above the Fed’s 2% target.

Richards, Layton & Finger Directors Ranked in Managing Intellectual Property’s IP Stars, with Kelly Farnan Named Among the Top 250 Women in IP

Richards, Layton & Finger director Kelly Farnan is named among the Top 250 Women in IP in Managing Intellectual Property’s 2024 edition of IP Stars—the only Delaware attorney to make the national Top 250 Women list. Richards Layton has earned Managing IP’s top Highly Recommended firm ranking, and Kelly and Fred Cottrell are recognized as Patent Stars. In addition, Jason Rawnsley has been named a Rising Star. Richards Layton has one of the most active and respected intellectual property litigation practices in Delaware. We are nationally recognized for tackling difficult, large-scale IP matters in the Delaware District Court, one of the leading venues for IP litigation in the United States, as well as in the Delaware Court of Chancery and Superior Court.

Troutman Pepper Launches 'Dear Mary' Advice Column

We are pleased to introduce 'Dear Mary,' a new advice column from Troutman Pepper's Incidents + Investigations team. This column will answer questions about anything and everything cyber-related — data breaches, forensic investigations, responding to regulators, and much more. 'Dear Mary' goes beyond the articles, podcasts, webinars, and other content we produce, as we are responding directly to your questions with concise, practical answers

Cinnaire Closes $175 Million Equity Fund 

Cinnaire announced the closing of the Cinnaire Fund for Housing Partnership 41, a $175.4 million multi-investor Low-Income Housing Tax Credit (Housing Credit) fund. The fund comprises 14 investors and will support the creation or preservation of 1,228 affordable multi-family homes across 22 properties in Michigan, Illinois, Indiana and Wisconsin. Fund 41 is the first of three multi-investor funds planned by Cinnaire this year. To date, Cinnaire has closed more than $5 billion in tax credit funds supporting affordable housing in ten states. 

World Trade Center Delaware Event - June 13 - The Ins and Outs of EXIM's International Banking Services for Regional and Community Banks

What you will learn:

• How EXIM tools can help your small business customers
• How EXIM’s tools can expand services that you can provide to your customers
• EXIM loans that help your customers to increase export capacity
• EXIM programs to help your customers get paid
• Who to Contact at EXIM for Small Business Services
• EXIM Programs for Minority, Women, Veteran-Owned Businesses

Who should attend: Loan officers and other employees from ...

• Non-traditional lenders such as CDFIs and Revolving Loan Funds
• Savings & Loans 
• Credit Unions
• Community banks 
• Regional banks 
• Small Business Owners and Financial Officers
• Anyone who wants an update about EXIM’s programs

Thursday, June 13, 8 a.m. - Noon - University & Whist Club, 805 N. Broom Street, Wilmington.