DBA Digest for March 15, 2024

CAFE Fintech Breakfast Showcase for Delaware Bankers Association - March 28 - 9:00 to 10:30 a.m.

The Center for Accelerating Financial Equity (CAFE) is excited to invite DBA members to meet the fintech companies in the first cohort of the Fintech Accelerator Program. Thursday, March 28, 9:00 a.m. - 10:30 a.m. at the FinTech Innovation Hub, STAR Campus, 591 Collaboration Drive, University of Delaware.

Meet the companies in the cohort, learn about innovative technologies, and mingle with the founders. These companies have extraordinary financial technology products that help financial institutions advance financial health & wellness for low- to moderate-income and other underserved communities.

The inaugural cohort includes:

Parlay: Works to get more underserved small businesses approved for loans.

Stratyfy: Is on a mission to accelerate financial inclusion by providing greater transparency and less bias in critical financial decisions.

Nester: The first-ever tool to help homeowners avoid their #1 regret: unexpected costs of repairs and maintenance.

Wellthi: Helps people build wealth better with social community finance technology and payment solutions.

Muse Tax: Muse’s mission is to equip LMI and underserved communities with expert financial assistance, without the prohibitive cost.

Sunny Day Fund: Powers workplace emergency savings programs for people-first employers shining the light on financial well-being.

There is no cost to attend, but registration is required

Women Connect - April 25! Registration Now Open!

Registration is now open for the next Women Connect Network event, April 25, 8 a.m. to 1 p.m. at the Wilmington University Brandywine Campus! Featured sessions include Philanthropy – Ages and Stages; Women in Business; and, special remarks from Dr. LaVerne Harmon, President of Wilmington University. In addition there will be a showcase of locally women-owned businesses and a networking breakfast!

The Women Connect Network serves as a catalyst to engage, empower and connect women in the Financial Services Industry. Women Connect brings together women from various specialties to support ongoing professional development, collaborate with other dynamic professionals, and engage in communities across Delaware.

Sponsorships available!

2024 Teach Children to Save Day!

April 15th - 19th - Only 9 Classrooms Left!

Bankers, only 9 Classrooms are still available for 2024 Teach Children to Save Day! This year's event, the 26th annual, is April 15th through 19th. Over the years, Delaware’s bankers have taught an important lesson on saving to over 240,000 kids. Teaching is fun and easy, with complete materials and training provided. Banker volunteers can register via the link below.

DBA 129th Annual Meeting & Dinner,

May 9th - Registration Now Open!

Registration is now open for the 129 Annual DBA Meeting & Dinner, May 9th at the DuPont Country Club. The keynote speaker for the evening will be Rene Perez, the National Director of Financial Crimes Sales & Financial Crimes Consultant with Jack Henry^sm. Rene has 23+ years of experience in the financial crimes industry and subject matter expert on financial crimes. He and has spoken at many major conferences including ACAMS®, Jack Henry Connect, and SAS’s Global Financial Crimes Conference. Rene has also written many different publications on Financial Crimes matters affecting the U.S financial sector.

Sponsorships are still available! Join these prestigious sponsors: Belfint Lyons Shuman; The Delaware Community Foundation; The Federal Home Loan Bank of Pittsburgh; McCollom D'Emilio Smith Uebler; Pinion; Potter Anderson Corroon; Richards Layton Finger; RKL CPA; S&P Global; Santora CPA Group; VISA; Weiner Benefits Group; and, Young Conaway.

Bank of America Private Bank Market Minute

Although posting a fractional weekly decline, the S&P 500 remains near all-time highs and is now up nearly 25% since late October without a 5% (or more) pullback along the way. Last week, the Dow Jones Industrial Average and Nasdaq Composite Indexes fell 0.9% and 1.2%, respectively. Bond markets closed higher, supported by lower Treasury yields across the curve. The yield on the benchmark 10-year U.S. Treasury note was pushed to its lowest intraday level (4.03%) since February 2. Gold surged to a record high last Friday, bumping up against the $2,200 an ounce level, while Bitcoin also traded at record highs, running up more than 70% year-to-date. Headlining economic news, the February jobs report was released showing U.S. labor market added 275,000 new jobs last month, well above expectations for 200,000, and with notable downward revisions to jobs gains in January that seemingly fueled additional rate cut probabilities. Wage growth slowed, measured by average hourly earnings moderating, as joblessness ticked up from 3.7% to 3.9%—a rate not seen since January 2022, although below the ominous 4% level.

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.

FINTECH and Financial Institutions Research Conference - April 19, 2024, at UD's FinTech Innovation Hub - 8 a.m. to 5 p.m.

The conference is a forum for presenting and sharing current research on the connectivity between fintech organizations and the greater financial services system. The conference will focus on enhancing understanding of the economic consequences and impacts, as well as the regulatory implications of the growing fintech sector.

This event is jointly planned and sponsored by the University of Delaware and the Federal Reserve Bank of Philadelphia.

SEC Adopts Climate Change Disclosure Rules Applicable to Public Companies and Offerings

The Securities and Exchange Commission (the “SEC”) has adopted new rules that require public companies to disclose substantial information about the material impacts of climate-related risks on their business, financial condition, and governance (the “Final Rules”). The SEC says that “climate-related risks, their impacts, and a public company’s response to those risks can significantly affect the company’s financial performance and position.” 

Webinar: Has The CFPB's Final Credit Card Late Fees Rule Dealt Cardholders A Winning Or Losing Hand?

On March 5, 2024, the Consumer Financial Protection Bureau issued its final credit card late fees rule which lowers the safe harbor late fee amount that can be charged by issuers other than “smaller card issuers” to $8. While the drastically reduced safe harbor amount has garnered the most attention, the final rule includes other significant changes that merit attention by both smaller and large card issuers.

Thursday, March 21, 2024, 1:00 - 2:15 PM ET

2024 Perspectives in Financial Services - April 2 & 3

Wipfli is hosting Perspectives in Financial Services, 4/2/2024 - 4/3/2024 at the Marriott Philadelphia Downtown, an in-person event designed exclusively for executive officers and board members of financial services organizations. Join us for two days of information and insights into the topics profoundly impacting the financial services industry today.

We’re expanding our event this year, covering critical concerns — from cybersecurity and data analytics to talent management — and offering industry-specific breakout sessions to give you targeted, actionable guidance. You can also join our unique networking opportunity and connect with our speakers or learn from industry peers.

The speakers, topics and networking make this an event you don’t want to miss. Space is limited, so register below to secure your spot today.