DBA Digest for November 8, 2024

NEW! Wizzo the Money Dog: "So You Want to Avoid Scams... Would My Bank Ask That?"

Wizzo the Money Dog is back with a new video on avoiding scams. This one addresses what your bank would and more importantly wouldn't ask you! Watch, share and keep your accounts and your customers' accounts safe from scammers! See the new video and the other Money Dog episodes via the link below!

The 2024 Delaware Trust Conference is Still in Session!

The Delaware Trust Conference continues! You can still attend virtually through November 30th! All the sessions, including four on-demand sessions, are now available via the conference site. Attendees can earn up to 18.5 CLE Credits! Visit the conference webpage (link below) for credit forms. All the sessions feature the stellar line-up of the nation’s top trust, legal, and wealth management experts for which the Delaware Trust Conference is known. 

Thank you to all the Sponsors, Exhibitors, Speakers, In-Person Attendees, and Live-Streamers for making the 2024 Delaware Trust Conference a memorable event!

You are invited to CAFE Fintech Accelerator Demo Day Showcase on Monday, November 18th!

Conference Chair, Matthew D'Emilio, presents the 2024 Delaware Trust Lifetime Achievement Award to Tom Forrest

Join us at the Fintech Innovation Hub on the STAR Campus of University of Delaware in Newark, Delaware on November 18th from 4-6pm ET. We will gather investors, bankers, academia, industry and community leaders, non-profit organizations, and entrepreneurs in the spirit of inclusive finance and advancing financial health & wellness for low- to moderate- income (LMI) people.

Watch six tech companies pitch their innovative solutions and share what they learned in our 8 week hybrid accelerator program that helps them grow their business and impact through connections, coaching, and community. Mingle with the founders and other industry leaders over food and drinks and create meaningful relationships for your business

Upcoming OnCourse Learning Webinars!

Placing Reg CC Holds Confidently and Compliantly - November 13th

During this session, we will use real-life scenarios to explain hold requirements under these new limits. In addition, we will describe an easy-to-implement monitoring and review process, and dissect the required funds availability policy to be sent. Reg CC holds are an important way to protect your institution. We will provide the tools and resources to help you place holds with confidence – and fulfill the annual Reg CC training requirement!

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Audience: This informative session is designed for frontline personnel, new account personnel, deposit operations personnel, branch managers, compliance officers, and internal auditors.

BSA Critical Issues and Update - November 13th

The Anti-Money Laundering Act of 2020 made several substantial changes to the BSA statute, and FinCEN and the prudential regulators are now slowly putting them into practice by amending the regulation and exam procedures. Most critical is a change to the beneficial owner rules that took effect in 2018; eventually (key word there) these requirements will be shifted onto businesses to be maintained in a government database.

Audience: The program is designed for BSA officers, compliance officers, auditors, and those responsible for either overseeing BSA in general or those within the lending business units with BSA responsibilities.

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

Bank of America Private Bank Market Minute

Despite closing at its first all-time high since mid-July last Tuesday, the Nasdaq Composite shed 1.5% last week, breaking a seven-week streak of gains amid mixed earnings feedback from mega-cap tech companies. The S&P 500 similarly fell 1.4% over the week. The yield on the 10-year U.S. Treasury continued its move higher last week, up 10 basis points (bps) last Friday alone to 4.38% at the close. After three weeks of gains, the price of gold was slightly down over the week after reaching its 41st record high of the year last Wednesday. A busy week of U.S. economic news concluded with a weak jobs report—only 12,000 jobs were added in October, well below expectations of 100,000 amid weather and strike-related disruptions. Payrolls from the prior two months were also downwardly revised by 112,000 jobs on net. The unemployment rate held steady at 4.1%. Job openings declined unexpectedly in September to 7.4 million per the Job Openings and Labor Turnover Survey. U.S. real gross domestic product (GDP) growth for Q3 registered at 2.8% annualized over the quarter, slightly below expectations while consumption rose an impressive 3.7% over the quarter. Personal consumption expenditures (PCE) inflation, the Federal Reserve’s preferred inflation measure, rose 0.2% in September and 2.1% over the year, in line with expectations. Its core counterpart rose 0.3% over the month and remained at 2.7% over the year.

29 Richards, Layton & Finger Practices Honored in Best Lawyers’ “Best Law Firms” Rankings

Richards, Layton & Finger has been recognized for excellence in 29 practice areas in Best Lawyers’ 2025 “Best Law Firms” rankings, including receiving the survey’s top Tier 1 ranking in 24 practice areas. Two of the firm’s practices—Mergers & Acquisitions Litigation and Securitization and Structured Finance Law—also achieved national ranking.



“We’re thrilled that we have even more practices listed in “Best Law Firms” than last year, including two practices that are new to the list: Employment Law – Management and Insurance Law,” said Lisa Schmidt, president of Richards Layton. “We consistently deliver outstanding legal counsel and innovative solutions across a wide range of practice areas, and I’m very proud of the work we do and the services we provide for our clients.”

Gordon, Fournaris & Mammarella Recognized in Four Practice Areas in the 2025 Edition of Best Law Firms®

Gordon, Fournaris & Mammarella, P.A. has four practice areas ranked in the 2025 Edition of Best Law Firms®. Listed as Metropolitan Tier 1 this year are GF&M’s practice areas for Trusts and Estates, Tax Law, and Litigation-Trusts and Estates. Litigation-Trusts and Estates moved up from Metropolitan Tier 2 to Metropolitan Tier 1 in this Edition of Best Law Firms®. Real Estate Law was ranked as Metropolitan Tier 2. The rankings for Best Law Firms® are based on a rigorous evaluation process that includes the collection of evaluations from clients and professional references. 

GF&M would like to thank those who submitted evaluations for our firm. It is an honor to be included in the 2025 Edition of Best Law Firms®. We look forward to continuing our work in providing high quality advice, specialized knowledge and legal excellence to all of our clients.

Regulatory Oversight Podcast - Emerging Trends in Consumer Protection: A Conversation With NAAG’s Kate Donovan

In this episode of Regulatory Oversight, Clay Friedman, co-leader of the firm’s State Attorneys General team, welcomes Kate Donovan, consumer counsel at the National Association of Attorneys General (NAAG). The conversation highlights Kate’s extensive career in consumer protection, her transition to NAAG, and the emerging trends and initiatives in consumer protection. Kate shares insights from her diverse experiences, including her time in Arkansas, California, and Japan, and discusses the evolving landscape of AI, social media, and solar financing. Clayton and Kate also discuss NAAG’s role in supporting state attorneys general through training, legislative advocacy, and collaboration with federal agencies.

Learner College of Business & Economics: Preparing You to Meet the Market's Financial Needs

According to the U.S. Bureau of Labor Statistics, the job outlook for financial managers is projected to grow 17 percent from now until 2033. The increasing importance of big data and FinTech in the finance sector necessitates a strong foundation in programming and analytics. The University of Delaware’s Master of Science in Finance program helps you evolve and grow as a financial professional to stay current in a changing industry. Offered by UD’s Lerner College of Business and Economics, the program is designed to augment your financial industry knowledge with specialized coursework in risk management and fixed income securities. In addition to developing your skills in critical thinking, the program sharpens analytical decision making and emphasizes teamwork. We equip you with the tools to identify, assess, and mitigate financial risks as well as the fundamental programming knowledge required to collect, process, and analyze extensive financial datasets. Collectively, these skills are critical in the increasingly data-driven financial industry and enable decision makers to navigate complex financial environments and devise effective strategies for managing risks and opportunities facing their enterprises. Recent graduates have successfully secured careers in areas such as investment banking, private wealth management, and financial services. We are now accepting applications for Spring 2025 enrollment. Join us!