DBA Digest for April 9, 2021 |
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Now Available: The Great Investo and the Money Tree! |
We all should save money, but what good does it do? That’s the question Penny asks The Great Investo, the world’s worst money magician. When you save money in your local bank, is it just for yourself or does it help anyone else?
New, just in time for 2021 Teach Children to Save Day, the Delaware Financial Education Alliance presents the latest savings adventure with the Great Investo and Penny. The book was made possible by the generous support of: Barclays; Capital One; Wells Fargo; County Bank; Fulton Bank; M&T Bank; Shore United Bank; WSFS; Artisans' Bank; Bank of America; Discover Bank; and, First Citizens Community Bank.
The book is now available on Amazon, and a free Kindle edition of the book will be available during Teach Children to Save week!
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Last Call to Volunteer for
2021 Teach Children to Save Day - April 19th - 23rd
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Time is running out for banker volunteers to register for 2021 Teach Children to Save Day! Many classrooms still need teachers. Sign up today to teach a lesson on the importance of saving April 19th through April 23rd. Due to the COVID-19 pandemic, Teach Children to Save Day will be conducted on-line via Zoom and other virtual platforms. Banker volunteers will still be able to teach and interact with the students. Teaching is easy, and full easy-to-follow instructions are provided.
2021 marks the 23rd Annual Teach Children to Save Day in Delaware. Over the past 22 years, Delaware’s bankers have taught an important lesson on saving to over 220,000 kids. Watch for volunteer sign-ups and become a part of this great community tradition!
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Governor Carney Proclaims Financial Literacy Month |
Governor John Carney declared April 2021 "Financial Literacy Month" in the State of Delaware, urging all Delawareans to "engage in activities that promote financial education and literacy." The proclamation stated in part that financial literacy empowers citizens to make better informed money decisions to they can live a quality life. Thank you, to Jordon Rosen, Director - Estates and Trusts at Belfint, Lyons and Shuman, for proposing the proclamation. You can read the full text via the link below. |
DBA Annual Meeting - May 13th
Join the Growing List of Prestigious Sponsors!
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The Delaware Bankers Association will be holding its 126th Annual Meeting on Thursday, May 13, 2021. Due to the continuing social distancing requirements, we will be conducting this year’s event on-line. This year’s event promises to be a memorable occasion including appearances by many dignitaries, and our keynote speaker, Erin Arvedlund, author of Too Good To Be True, The Rise and Fall of Bernie Madoff.
Sponsorships are available. Join these illustrious sponsors: Platinum Sponsor - Federal Home Loan Bank of Pittsburgh; Gold Sponsor - Young Conaway Stargatt and Taylor, LLP; Silver Sponsors - Connolly Gallagher LLP; Richards, Layton & Finger, P.A.; and Troutman Pepper; Bronze Sponsors - Belfint, Lyons & Shuman, P.A.; CAPCO; McCollom D'Emilo Smith Uebler; Potter Anderson and Corroon LLP; Santora CPA Group; and, Weiner Benefits Group. Follow the link below for sponsorship information.
Bank Sponsorships are also available. Each bank sponsor receives 30 registrations, a full-page ad in the program, and a 60-second video ad spot during the event. Contact Sarah Long for information on joining these prestigious bank sponsors... |
Foundations of Delaware Trusts:
Estate Planning Strategies to Minimize Taxes and Control Wealth Transfer - Premieres April 19th!
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Approved for 2.5 CE Credits Per Session; 2.00 DE CLE! |
Be there for the premiere of the next session of Foundations of Delaware Trusts: Estate Planning Strategies to Minimize Taxes and Control Wealth Transfer - Live with Q&A April 19th - 9 to 11 a.m. with Matt D'Emilio, Managing Member, McCollum D'Emilio Smith Uebler LLC, and, Mark Doyle, Principal, Fiduciary Counsel, Bessemer Trust Company of Delaware, N.A. Don't miss this overview of existing wealth transfer taxes, a discussion regarding possible upcoming changes to those taxes, and a review of various wealth transfer strategies available to clients to reduce or eliminate the imposition of tax.
And available now: Discretionary Decision-Making on-demand with Cynthia D.M. Brown, President, Commonwealth Trust Company, and Todd A. Flubacher, Esq., Partner, Morris, Nichols, Arsht & Tunnell LLP.
Coming in May: Reading and Interpreting a Trust Document with David Diamond, President, The Northern Trust Company of Delaware, and Daniel Hayward, Partner, Gordon, Fournaris & Mammarella, P.A.
Each session is only $199 for DBA Members, or all three sessions for only $459 for members!
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Women Connect - Live and On-Demand!
Next Session - April 22nd!
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The 2021 Women Connect Speaker Series continues on April 22nd. Join us for "Lessons from Human Resources" with Cathleen Hitchens, SVP of Human Resources, Flagship Credit Acceptance. With 20+ years in the HR field, Cathleen will guide attendees on how to build rapport and engagement while enhancing long-term relationships within all levels of any organization.
The Women Connect Speaker Series features six sessions, live and on-demand! Monthly: February 18th through July 22nd. All Six Sessions for Just $199 for DBA Members ($249 for non-Member). Sponsored by The Delaware Community Foundation; Santora CPA Group; and, The Bryn Mawr Trust Company of Delaware. Follow the link below for full agenda and registration information.
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Sign Up Now! Two On-Line Courses:
Fundamentals of Commercial Banking; and,
Analyzing Repayment Sources!
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The Delaware Bankers Association & Delaware Financial Education Alliance has partnered with Andy Keusal with Keusal Learning LLC to offer two new online Breaking into Banking videos:
- Breaking into Banking 101: Fundamentals of Commercial Banking - ten learning modules, over 5 hours in total content
- Breaking into Banking 201: Analyzing Repayment Sources - nine modules covers topics including how to analyze income statements, balance sheets, collateral, and risk rating.
Each module includes a video lesson and a multiple-choice self-check. Many of the lessons include exercises/case studies for learners to work through that are related to a sample company outlined in the course’s Reference Guide.
Get the full details, including an introductory video at the link below.
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Shore United Congratulates
Laura Heikes for 35 Years of Service
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Shore United Bank is honored to recognize Laura Heikes for 35 years of service to the Company. Laura started her career with the Bank in April of 1986 as an assistant comptroller at our Dover Street, Easton, MD branch. Over her 35 years, she has held many positions with the Bank such as, manager of loan services, officer of compliance and security, branch administration, operations and conversion coordinator. Mrs. Heikes currently serves as a Senior Vice President of Shore United Bank, and our Government and Community Relations Officer and will be retiring from the Company on April 28, 2021.
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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. |
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Banking Regulatory Agencies Seek Information on Financial Institutions’ Use of Artificial Intelligence
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Five federal banking regulatory agencies are gathering information and comments on financial institutions’ use of artificial intelligence (AI), including machine learning. On March 29, the Federal Reserve Board, the Consumer Financial Protection Bureau, the Federal Deposit Insurance Corporation, the National Credit Union Administration, and the Office of the Comptroller of the Currency issued a request for information (RFI) seeking information on the following topics:
- financial institutions’ risk management practices related to the use of AI;
- barriers or challenges facing financial institutions when developing, adopting, and managing AI and its risks;
- benefits to financial institutions and their customers from the use of AI; and
- whether any clarifications from the agencies would be helpful for financial institutions’ use of AI in a safe and sound manner and in compliance with applicable laws.
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Ballard Spahr Consumer Finance Monitor: SCOTUS narrows reach of TCPA autodialer definition |
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Today, in a unanimous decision, the U.S. Supreme Court limited the reach of the Telephone Consumer Protection Act (“TCPA”) by narrowing what technology qualifies as an Automatic Telephone Dialing System (“ATDS”). Among other restrictions, the TCPA prohibits calls to phone numbers using an ATDS without prior express consent. The TCPA defines an ATDS as “equipment which has the capacity (A) to store or produce telephone numbers to be called, using a random or sequential number generator; and (B) to dial such numbers.”
In Facebook v. Duguid, the Court held that the key phrase “using a random or sequential number generator” modifies both “to store” and “to…produce.” Therefore, automatic dialing technology only qualifies as an ATDS if it has the capacity to store numbers “using a random or sequential number generator” or to produce numbers “using a random or sequential number generator.”
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