DBA Digest for March 22, 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 4 Classrooms Left! Volunteer Today!

Bankers, only 4 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 - Register Today!

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; Mayer Brown; 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.

Dynamic Presentation Skills - April 30th

Are you aware that people can fear public speaking even more than dying? For those who want to conquer this common fear and those who already speak in front of groups but would like to do so with greater ease and effectiveness, this course can help! 

​Designed to put participants at ease while challenging them to apply concepts they’re learning (yes, by actually speaking), this course gives them essential tools for affecting others with their sales presentations, public speeches, presentations at meetings, and other speaking opportunities. Join Linda Comerford, Comerford Consulting for this valuable on-line course via Zoom Tuesday, April 30, 2024 9:00 AM - 4:00 PM. $199/per person ($249/non-members)

Get a FREE preview session - March 26 from 4:00 – 5:00 PM EST. Sign up below!

Breaking Bad Habits - May 14th

Bad habits—everyone has them. But unlike biting fingernails or a leaving cap off the toothpaste, bad writing and communication habits can be especially problematic in the business world. Why? Because those writing, speaking, and interpersonal communication habits are seen and heard by so many others, often daily. The result is that aware of it or not, everyone develops a communication reputation. Join Linda Comerford, Comerford Consulting for this valuable on-line course via Zoom, May 14, 2024: 9:00 a.m. to 12:30 p.m. Just $99 per person for DBA members/$149 per person for non-members.

Fulton Financial Corporation Declares Common and Preferred Dividends

Fulton Financial Corporation announced that its Board of Directors declared a quarterly cash dividend of seventeen cents per share on its common stock, payable on April 15, 2024, to shareholders of record as of April 1, 2024.



In addition, Fulton announced that the Board declared a quarterly dividend of $12.81 per share (equivalent to $0.32025 per depositary share) on its Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A, payable on April 15, 2024, to shareholders of record as of March 31, 2024, for the period from and including January 15, 2024, to but excluding, April 15, 2024.

Bank of America Private Bank Market Minute

For the second consecutive week, major U.S. Equity indexes broke an extended streak of positive weekly gains—barely. After a four-month rally boasting 16 weeks of gains of 18, last week saw the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite Indexes edge down 0.13%, 0.02%, and 0.70% respectively, while the Russell 2000 lagged further behind with a weekly loss of 2.08%. Gold prices hit a record high last Monday but closed last Friday with its first weekly decline in a month. Meanwhile, copper prices surged to an 11-month high as Chinese smelters agreed to production cuts. After falling to 4.07% the prior week, the yield on the 10-year U.S. Treasury note closed at 4.31% last Friday. Contributing to the rise in yields was seemingly sticky inflation data. The Consumer Price Index rose 3.2% over the year in February, slightly above expectations. Higher gasoline and shelter prices contributed to the monthly move-up. Also, hotter than expected was the Producer Price Index, up 1.6% year-over-year (YoY) versus a revised 1.0% in January. Retail sales rose 0.6% in February, slightly cooler than expected but following a revised 1.1% decline in January. The University of Michigan’s preliminary Consumer Sentiment Index reading for March inched down to 76.5, with the release suggesting stabilized sentiment since January. This week, all eyes will be on the Federal Open Market Committee’s (FOMC) March meeting. Following last week’s inflation data, fed funds futures pricing data now suggests that most expect the first interest rate cut from the Federal Reserve to arrive in June or July.

 Whisman Giordano & Associates

Has Successful Peer Review

Whisman Giordano & Associates, LLC announces that the firm has received the highest rating of "pass" with no deficiencies and no letter of comments from a rigorous peer review of its accounting and auditing practice. Under the standards established by the American Institute of Certified Public Accountants (AICPA), firms can receive a pass, pass with deficiencies, or fail.

Managing Director Lisa DeRose, CPA, CGMA, says, "Just like with our past peer reviews, we’re happy to share that we received a “pass.” This score confirms that our approach to client service, technical skills, staff training, and everyday commitment to delivering our best are working. Our next peer review is in 2026, and we look forward to receiving the same result.” 

Consumer Finance Podcast - The CFPB's

Final Credit Card Late Fee Rule: Implications

and Industry Response

In this special crossover edition of The Consumer Finance Podcast and the Payments Pros podcast, Chris Willis is joined by Josh McBeain and Glen Trudel. They discuss the recent final credit card late fee rule issued by the Consumer Financial Protection Bureau (CFPB) and the industry's reaction to it. The rule lowers the safe harbor provision dollar amount for late fees to $8 for large credit card issuers and increases it for small issuers. The team also discusses the legal challenge filed against the rule by a collective of trade groups. They speculate on potential industry responses if the rule survives legal challenges, such as increasing APRs, creating new fees, raising minimum payments, and tightening credit.

Wilmington University Scholarship Golf Classic

Wilmington University’s annual Scholarship Golf Classic is an enjoyable golf tournament that helps raise funds for student scholarships. Join us at Deerfield  as a sponsor, golf team, dinner guest, or all three. Attendees will enjoy a day on the course, with refreshments, golf gifts and raffles. Mobile bidding will be available. Sponsorship amounts range from $150 to $15,000, and many include foursome and dinner tickets. Foursomes (alone) include all the above for $1,000 per team. Not a golfer? No problem. Golfers and non-golfers are invited to a dinner celebration. Enjoy a dinner buffet, wine, silent auction, live music, and more, all for $100 per guest (unless this is already included with sponsorship or foursome).

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.