DBA Digest for March 3, 2023

Reserve Your Space! Sign Up Today!

2023 Teach Children to Save Day!

April 24th - 28th

Classrooms are going quickly for 2023 Teach Children to Save Day! This year's event, the 25th annual, is April 24th through 28th. The majority of classrooms will be in-person! Over the years, Delaware’s bankers have taught an important lesson on saving to over 230,000 kids. Teaching is fun and easy, with complete materials and training provided. Register via the link below.


2023 Teach Children to Save Day!

Every Student Receives a Book!

Thank You Sponsors!

The Delaware Bankers Association and the Delaware Financial Education Alliance have created a 20-page comic book, especially for this year's event. Featuring The Great Investo and Penny, the story illustrates the concept of scarcity and the importance of saving for a financially independent future. All students will receive their own copy of the comic book to keep.

Bank sponsorships for the comic book and the event are coming to a close. Thank you to the record number of sponsors who make Teach Children to Save Day happen!


Sallie Mae

Smarty Pig

TD Bank

Wells Fargo


Artisans' Bank

Bank of America

Capital One

Fulton Bank

M&T Bank


Comenity Bank

First Citizens Community Bank

Shore United Bank

Please contact Sarah Long or Greg Koseluk for more information on sponsorship.

Bank of America Private Bank Market Minute

Over a holiday shortened week, Equities capped a third consecutive week lower, with the S&P 500 falling 2.7%, as the Dow Jones Industrial Average sliding 3.0%, and the Nasdaq Composite losing 3.3%. Markets reacted last Friday to the Federal Reserve’s (Fed) preferred inflation gauge coming in hotter-thanexpected. The personal consumption expenditures (PCE) price index jumped 0.6% in January, its biggest rise since August 2022. Headline inflation increased 5.4% year-over-year (YoY) compared to 5.3% in December. The core rate, excluding food and energy, was up 4.7% from a year ago—a pickup in pace from the prior month. Personal income increased less than expected while spending jumped. In the wake of last Friday’s data, futures markets according to CME Group data, began pricing in a roughly 30% chance of a half-point hike in the federal funds target rate at the next policy meeting in March. A sell-off in Treasurys brought the yield on the 10-year U.S. Treasury note near 4.0%. A few retailer’s Q4 earnings reports indicated some tightening in household budgets, while also giving more cautious outlooks. All in, and down from a previous estimate of 2.9%, U.S. gross domestic product (GDP) over Q4 was revised lower to 2.7%, slower than the initial estimate of 2.9%, and slower than 3.2% growth over Q3

Full Story

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.

Ballard Spahr Alert: SCOTUS Agrees to Decide Whether CFPB’s Funding Is Unconstitutional But Will Not Hear Case Until Next Term

The U.S. Supreme Court has granted the certiorari petition filed by the CFPB seeking review of the Fifth Circuit panel decision in Community Financial Services Association of America Ltd. v. CFPB. In that decision, the Fifth Circuit panel held the CFPB’s funding mechanism violates the Appropriations Clause of the U.S. Constitution and, as a remedy for the constitutional violation, vacated the CFPB’s payday lending rule (Rule). The Court was unwilling, however, to expedite the case and hear it this Term as requested by the CFPB and instead will hear the case next Term.

The Court also denied the cross-petition for certiorari filed by Community Financial Services Association (CFSA) asking the Court to review the alternative grounds for vacating the Rule that the Fifth Circuit rejected. The Court was also unwilling to add the alternative grounds to the CFPB’s petition as antecedent questions. CFSA had asked the Court to consider the alternative grounds as antecedent questions as an alternative to granting its cross-petition. A ruling by the Court in favor of CFSA on one of the alternative grounds might have allowed the Court to avoid reaching the constitutional issue.

Full Story
We want to hear from you! Please send your news items to
Greg Koseluk at [email protected]