DBA Digest for May 26, 2023

Women Connect Networking Event!

Twenty-Five financial service professionals gathered at the Riverfront Hyatt Place in Wilmington on Thursday evening, May 18, for the latest Women Connect Essential Networking event. It was a great time of fun, laughter, and connection.

UD Trust Management Minor Golf Classic - June 12 - Register - Sponsor - Donate - Volunteer!

Please join us on June 12, 2023 for a fun day at Hartefeld National for the inaugural University of Delaware Trust Management Minor Golf Classic.  Please reach out to Jennifer McCloskey at 302-528-8317 or lerner-trustmanagement@udel.edu with any questions. Registration closes June 5th!

Full Details & Registration

Fulton Bank Releases 2022 Corporate Social Responsibility Report

Fulton Bank, N.A, a subsidiary of Fulton Financial Corporation, released its 2022 Corporate Social Responsibility (CSR) Report showcasing how Fulton Bank continues to meet its purpose of changing lives for the better.


“In this year’s report, you will see that our company is growing and making impact by doing what matters most,” said Curt Myers, Chairman and CEO, Fulton Bank. “We’re helping people become first-time homeowners; educating customers about money; empowering community members to make good financial decisions; and making financial services available for people and small businesses in underbanked and underserved communities.”

This year’s CSR Report includes more highlights of how Fulton aligns with the Sustainability Accounting Standards Board (SASB) standards and provides additional information about certain other metrics that underscore our efforts to create positive impact in our company and throughout our communities. 

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Bank of America Private Bank Market Minute

Despite the uncertainty around the debt ceiling talks, the major indexes posted gains for the week: S&P 500 rose 1.6%, the Dow Jones Industrial Average increased 0.4%, and the Nasdaq bumped up 3%. Big technology remains the big market driver. With 93% of the S&P 500 having reported, top and bottom lines are coming in better-than-expected. The latest macro data remains mixed: U.S. retail sales rose a seasonally adjusted 0.4% in April from a month earlier, following declines in March and February. Spending was concentrated on services rather than goods; however, auto sales remain a strong spot. In the 50-plus years of available data from the Commerce Department, there has never been a recession in the U.S. without a decline in new vehicle sales. U.S. manufacturing output rose 1% in April after declining in March. Economic prints in China were weak: retail sales, factory activity, fixed asset investment—all below expectations for April.

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NEW – Ask the Fed: Discount Window Preparedness

The Federal Reserve is committed to providing you with relevant information on issues of the day and the changing regulatory landscape. We are pleased to announce the following pre-recorded webinar: NEW –Discount Window Preparedness

The Federal Reserve has prepared a special pre-recorded Ask the Fed® session titled Discount Window Preparedness. This session provides participants with information on how to prepare to borrow from the Federal Reserve’s discount window and the Bank Term Funding Program.

The session was also referenced during the May 24, 2023, Ask the Regulators: Supervisory Update on Funding and Liquidity Risk Management webinar.

Both sessions and materials are available at www.askthefed.org under the “All Calls” tab.

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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.

22 Richards, Layton & Finger Attorneys Named to Super Lawyers

Twenty-two Richards, Layton & Finger attorneys have been recognized by Super Lawyers in its annual rankings of Delaware’s leading lawyers. Super Lawyers selects lawyers on the basis of their professional skill, achievements, and peer recognition, choosing only 5 percent of the lawyers in the state. Firm director Gregory Williams is again named on the Super Lawyers list of Delaware’s Top 10 lawyers—an honor he has received every year since 2007.

Read the full listing of the Richards Layton lawyers chosen for the Super Lawyers list via the link below.

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11 Morris Nichols Attorneys Selected for Inclusion in 2023 Delaware Super Lawyers

Eleven Morris Nichols attorneys were selected for inclusion in the 2023 edition of Delaware Super Lawyers, released today. Bill Lafferty and Ken Nachbar are listed on the “Top 10” list recognizing the Delaware lawyers who were awarded the highest point totals. In addition, Ali Cumings was selected as a Delaware Rising Star.

Read the full listing of Morris Nichols Attorney Recognitions and Super Lawyers Practice Area via the link below.

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CFPB Issues Small Business

Lending Rule Compliance Guide

The Consumer Financial Protection Bureau (CFPB) published a Small Entity Compliance Guide (Guide) covering the amendments to the Equal Credit Opportunity Act (ECOA) and Regulation B, which implement requirements of Section 1071 of Dodd-Frank. These amendments require that financial institutions compile and report certain data regarding certain business credit applications, as explained in our blog. The Guide includes a detailed summary of the final rule’s requirements and examples that explain how the requirements should be applied to typical facts. The Guide includes discussions of key definitions, reportable data points, guidance on collecting data, creation of an employee firewall, and treatment of data once it’s been compiled.

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DEBCC Networking Mixer - June 1st, 6:00 PM

You are invited to the 3rd Annual ABC | DEBCC Networking Mixer, 6/1/2023 at 06:00 PM.

Join ABC and DEBCC on the plaza for our 3rd annual joint networking event.

We want to hear from you! Please send your news items to
Greg Koseluk at greg.koseluk@debankers.com