DBA Digest for July 14, 2023

Delaware Trust Conference - New for 2023! Monday Evening Reception on the Kalmar Nyckel!

The 2023 Delaware Trust Conference will kick off with a reception Monday, October 16, 4 to 6 p.m. on Delaware's tall ship, the Kalmar Nyckel. The reception is open to speakers and panelists. Tickets to this exclusive reception event are just $150. Platinum and Diamond Sponsors receive two free registrations to the reception with their sponsorships. Space is limited! Contact Corinne Stayton to reserve your spot today!

2023 Delaware Trust Conference Discounted Early-Bird Registration! SAVE $300 until August 4th!

Discounted Early-Bird Registration continues for the 2023 Delaware Trust Conference. Registrants can save $300 on full access registration through August 4th! The 2023 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streaming, on October 17 & 18, AND on-demand through November!

Sponsorships Available!

The list of prestigious Sponsors and Exhibitors continues to grow! Make sure your company is represented at the 2023 Delaware Trust Conference. See the link below for full registration benefits!

Platinum Sponsor: 

The Bryn Mawr Trust Company of Delaware (a WSFS Company)

Diamond Sponsors: 

Connolly Gallagher

The Glenmede Trust Company of Delaware

Gordon, Fournaris & Mammarella

McCollom D'Emilio Smith Uebler

Richards Layton & Finger

Young Conaway Stargatt & Taylor

Gold Sponsor

Morris, Nichols, Arsht & Tunnell

Silver Sponsors

Chilton Trust

Commonwealth Trust Company

Morris James LLP

Pinion

Santora CPA Group

U.S. Trust Company of Delaware

Bronze Sponsor

Belfint, Lyons, and Shuman, P.A.

Exhibitors

Deutsche Bank Trust Company Americas

National Care Advisors

Pinion

S&P Global

The 2023 Delaware Trust Conference will be live at The Chase Center on the Riverfront, AND live-streamed, on October 17 & 18, AND on-demand through November! 

New! Foundations of Delaware Trusts: Best Practices Series - Live and On-Demand

New in the Foundations of Delaware Trusts series, three new sessions highlighting the best practices for trust professionals taught by Delaware's top trust experts! Each session will be conducted live on the date indicated and will be available for on-demand viewing afterward.

Transfer Trust Best Practices - August 16, 10:00 a.m.

Instructors: Matthew P. D'Emilio, Managing Member, McCollom D'Emilio Smith Uebler LLC; Tara S. Hersh, Associate, McCollom D'Emilio Smith Uebler LLC

GST Tax Best Practices - August 29, 10:00 a.m.

Instructors: Cynthia D.M. Brown, President, Commonwealth Trust Company; Kimberly Gill McKinnon, Director, Gordon, Fournaris & Mammarella, P.A.

Trust Termination Best Practices - September 7, 11:00 a.m.

Instructors: Mark A. Oller, Delaware Trust Executive, U.S. Trust Company of Delaware; Todd A. Flubacher, Esq., Partner, Morris, Nichols, Arsht & Tunnell LLP

2023 FDIC Directors' College -

September 22nd - Dewey, DE

Registration is now open for the 2023 FDIC Directors' College, September 22, 8:30 to 1:30, at the Hyatt Place, Dewey, DE. The FDIC Directors’ College is an interactive program that provides ongoing education on current topics of bank supervision to bank directors, senior officers, corporate secretaries, and board advisors. The course is designed to help directors and trustees, both new and experienced, stay abreast of the ever-changing regulatory environment. Modules this year include: Consumer Protection; Risk Management; Conversation with the Regulators; and Economics and Banking Update. Please click on the link below to view the detailed agenda and to register.

Mid-Atlantic Bank Executives Conference

September 10 - 11

This event, brought to you by five states (DE, MD, PA, VA and WV) will bring together bankers and industry partners for sessions with nationally recognized speakers providing relevant and timely content geared specifically to bank c-suite and other senior leaders. See the full agenda and registration information via the link below.

Nick Lambrow: How to Build a Better Delaware

When I first came to Delaware, it was important to me to tell the “M&T story” to our policymakers. I wanted to share who we are, what we do, and most importantly, what we care about as a company.

This outreach, along with the Delaware Bankers Association and leaders from our local banking community, provides our decision-makers a more dynamic understanding on how much we care about the community around us, and this serves as the base of the relationships we’ve built since then.

One of the most important pieces to our story is our commitment to small businesses in the First State. According to the Delaware Division of Small Business, Delaware is home to 27,111 small businesses, which accounts for 98% of all businesses in the state and employs 56% of our population.

Fulton Bank Announces Recipients of Two $3,000 Women in Technology Scholarships

Fulton Bank, N.A., a subsidiary of Fulton Financial Corporation, announced that Ashley DeLong and Yazlin Moujalled have been chosen to each receive a $3,000 scholarship. The scholarships were awarded by Fulton’s Women in Technology employee resource group to women studying in the science, technology, engineering or mathematics (STEM) fields.

Both recipients will be attending undergraduate programs in the fall:

• Ashley DeLong is from Fleetwood, Pennsylvania and graduated from Brandywine Heights High School. She will attend the University of Delaware pursuing a bachelor’s degree in biomedical engineering.
• Yazlin Moujalled is from Frederick, Maryland and graduated from Walkersville High School and Frederick County Public School Career and Technology Center. She will attend the University of Maryland, Baltimore County (UMBC) pursuing a bachelor’s degree in computer science with a minor in mathematics.

“Fulton Bank is proud to honor these two women who have shown their dedication and perseverance to continuing their education in the STEM field,” said Kelly Salvato, an Information Technology Project Manager and Chairperson of Fulton’s Women in Technology Employee Resource Group.

Kristin Shaw celebrates 30 years with

Shore United Bank

Shore United Bank is happy to congratulate Kristin Shaw on 30 years of service. Kristin began her career with the bank in June of 1993 as a floating teller. Although she has worked on the front line at both Elliott Road and Dover Street branches, she currently holds the role of Branch Support Specialist at the Dover Street branch in Easton, reviewing account openings and associated processes.

“We sincerely appreciate Kristin’s hard work and efforts year after year. A big ‘thank you’ to Kristin for all the contributions she has made in adding to the success of the company over her time here and for 30 wonderful years of service,” celebrates Misty Newnam, Branch Operations Officer at Shore United Bank.

How Will Delaware’s New Family and Medical Leave Insurance Program Affect You?

Delaware Paid Leave legislation will give employees the support they need during a health or family event—and employers the opportunity to attract and retain top-quality personnel. Whether you manage a business in Delaware or work for one, this is your opportunity to learn more about Delaware Paid Leave from the Director of the Division of Paid Leave, Chris Counihan.

Attend the Delaware Paid Leave Public Forum, in person or online. Wednesday, July 19, from 8 to 9:30 a.m.at Hilton Garden Inn Dover, 1706 N. Dupont Highway, Dover, DE 19901.

This event is open to the public and registration is encouraged for planning purposes. To register, and to opt in for future email updates about Paid Leave, visit DEPaidLeaveForum.com.

Bank of America Private Bank Market Minute

After a strong first half to the year, markets were down slightly last week, as the S&P 500 and NASDAQ Composite slipped around 1%. The Dow Jones Industrial Average fell around 2%. Minutes from the Federal Reserve’s (Fed) June meeting reinforced expectations of further interest rate increases in the coming months, sending bond yields higher. The yield on the 10-year U.S. Treasury note was firmly above 4% for the first time since March. The 2-year note briefly eclipsed 5.00% last Thursday before settling below that threshold on that Friday. Hiring data came in short of expectations showing employers added 209,000 jobs in June, the smallest monthly gain since December 2020. The unemployment rate slipped to 3.6%. Total job openings fell to 9.8 million in May (although still high compared to prepandemic levels) while the number of workers quitting their job increased in May particularly in industries such as healthcare, social assistance, and construction. Although fewer workers are quitting their jobs than were doing so at this time last year. U.S. factory activity contracted for an eighth month in June as production, employment, and input prices decreased. The Institute for Supply Management (ISM) manufacturing gauge for June fell to 46.0, the weakest since May 2020 (with sub-50 readings indicating a contraction in activity). This week, corporate earnings season kicks off as major banks begin reporting their Q2 results. June’s Consumer Price Index (CPI) report is due Wednesday as well as the Producer Price Index (PPI) due on Thursday.

Ask the Regulators: Final Supervisory Guidance on Third-party Risk Management

On Wednesday, July 26, 2023, at 1:00 p.m. ET, staff from the Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, and Office of the Comptroller of the Currency (OCC) will conduct an Ask the Regulators webinar for their supervised institutions on the recently issued final guidance on third-party risk management: https://www.federalregister.gov/documents/2023/06/09/2023-12340/interagency-guidance-on-third-party-relationships-risk-management.

During the webinar, staff of the agencies will provide an overview of the final guidance, highlighting key topics and specific areas for consideration. Staff will also discuss the guidance’s description of supervisory processes with respect to banks’ third-party risk management practices.



Troutman Pepper Podcast: CFPB's Larger Participant Rule for Consumer Payments

In this episode of Payments Pros, our hosts Keith Barnett, Carlin McCrory, and Josh McBeain join their colleague Chris Willis to discuss the Consumer Financial Protection Bureau's (CFPB) larger participant rule for consumer payments mentioned in its 2023 semiannual rulemaking agenda.