ABA Foundation Accepting Donations to Support Mississippi Tornado Relief Efforts;

ABA to Contribute $50K

The American Bankers Association Foundation announced it will start collecting tax-exempt contributions through its Disaster Relief Program to help aid relief efforts in Mississippi after a series of deadly tornadoes swept through the region on March 24. The storms killed at least 21 people and destroyed homes and businesses in their path. At the request of the Mississippi Bankers Association (MBA), the ABA Foundation will immediately begin accepting donations today, with all funds directed to the Heart of the Delta Foundation, which is supporting rural communities in the Delta region, and the CREATE Foundation, which is aiding relief efforts in Northeast Mississippi.



ABA announced that the association will lead the fundraising effort by contributing $50,000 through the Foundation’s Disaster Relief Program to assist those affected by the tornadoes. Local bank employees were among those directly impacted by the storms. Two Bank of Anguilla employees suffered significant injuries from the tornado that hit the town of Rolling Fork and a number of bank employees lost their homes. Employees working for banks in Northeast Mississippi were also affected by the storm, and bank branches sustained damage as well.

DBA Hosts 2023 Legislative Reception

DBA Director, Government Affairs, David Mench, and DBA President, Sarah Long, greet Senator Eric L. Buckson, at Wednesday's Legislative Reception

Dozens of bankers and members of the Delaware Legislature met Wednesday morning in Dover for the 2023 DBA Legislative Reception. The annual event affords bankers the opportunity to meet one-on-one with the senators and representatives who pass the laws that directly impact the financial services industry.

"The Legislative Reception is an excellent event to interact with lawmakers," said DBA President, Sarah Long, "and demonstrate the importance of the banking industry in the First State."

The reception was sponsored by Discover Bank.

Instructional Video Now Online!

2023 Teach Children to Save Day!

April 24th - 28th

The instructional video and lesson materials are now available on the Teach Children to Save Day webpage at debankers.com. The example lesson, taught by Judy Austin of the Center for Economic Education and Entrepreneurship, is filled with helpful tips to guide you through this year's Teach Children to Save Day visit.

A handful of classrooms are still available and awaiting banker volunteers for 2023 Teach Children to Save Day! Don't miss out on this year's event, the 25th annual, 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. You can register on the Teach Children to Save Day page.

Especially for our 25th Anniversary, the Delaware Bankers Association and the Delaware Financial Education Alliance have created a 20-page comic book. 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.

DBA 128th Annual Meeting & Dinner - May 11 - du Pont County Club - Sponsorship Available

Mark your calendar for the DBA's 128th Annual Meeting and Dinner, May 11, at the duPont County Club. The keynote speaker for the evening will be David Debusschere,

EVP and COO/CFO at Keystone Sports and Entertainment LLC (Philadelphia Union).

Sponsorships are available! Join these prestigious sponsors: The Federal Home Loan Bank of Pittsburgh; Young Conaway Stargatt & Taylor; Richards, Layton & Finger; McCollom D'Emilio Smith Uebler; Santora CPA Group; Belfint, Lyons & Shuman; CAPCO; Potter Anderson & Corroon; RKL; and Weiner Benefits Group. Click on the link below for sponsorship information.

Women Connect Networking Event

May 18-19, 2023

The next Women Connect Network event will be held May 18-19, 2023, in Wilmington, DE. Join us for two days of fun, laughter, and life-long connections! May 18 will feature interactive activities in downtown Wilmington, followed by a half day program on May 19. Don't miss the excitement! Full agenda coming soon!

Pre-Register today to receive a 10% discount! Discount valid through April 14.

JPMorgan Chase & Co. - Carry The Load Event - Thursday, May 4th, 2:30pm

Carry The Load is a non-profit organization that provides active ways to connect Americans to the sacrifices made daily by our military, veterans, first responders, and their families. What started in 2011 as a grassroots effort by two veteran U.S. Navy SEALs to restore the true meaning of Memorial Day has now grown into honoring our nation’s heroes 365 days a year. Their mission is to provide active ways to honor and remember our nation’s heroes by connecting Americans to the sacrifices made by our military, veterans, first responders and their families. Since 2011, they have raised over $38,058,334.

Memorial Day is dedicated to honor and remember the men and women who died while serving in the U.S. military. Although it is observed on the last Monday of May, Carry The Load’s Memorial May campaign takes place all month long to raise awareness and provide active ways to connect Americans to the sacrifices made by our military, veterans, first responders and their families.

We hope you will join us by participating in the East Coast Leg on Thursday, May 4th @ the Daniel S. Frawley Stadium (home of the Blue Rocks). Please see the link with all the information needed to register.  

Bank of America Private Bank Market Minute

Another volatile week ended last week with U.S. indexes higher despite ongoing concerns over bank stability. The S&P 500 gained 1.4% last week, while the NASDAQ rose 1.7% and Dow Jones Industrial Average gained 1.2%. Communication Services, Energy, and Materials were the best performing S&P 500 sectors, while Real Estate and Utilities were the worst performing. The yield on the 10-year slipped to 3.38% last Friday down from a recent peak of 4.06% on March 2. The 2-year yield was around 3.77% by week-end—the lowest since September and down from 5.07% on March 8. Last Wednesday the Federal Reserve (Fed) raised the target range for the federal funds rate by 25 basis points (bps) to 4.75% - 5.00%. In the post-decision press conference, Chair Powell said the banking system is “sound and resilient with strong capital and liquidity”. The “ongoing increases” language was tempered to “additional policy firming may be appropriate”. The Fed’s updated long-term economic projections anticipates a terminal fed funds rate of 5.1% in 2023.

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.

 U.S. Bank Failures: The Emerging Regulatory Focus

CAPCO’s team of experienced compliance professionals, former examiners, licensed attorneys, and executives introduces the latest resource for compliance professionals – the Compliance Blog. The same experienced professionals who publish the Big Orange Book and consult and support our clients on regulatory interpretations and the application of those interpretations to everyday business practices, products, and services now share their subject matter expertise via our blog at https://capcoacademy-training.com/blog. The blog offers the latest news and helps fill in the gaps to keep you up-to-speed on the latest cutting-edge topics. We post on topics that educate and inform and are generated by interest from our clients’ compliance questions submitted via our chat ticketing system.

Some of our recent posts include:

• Qualified Mortgages – What is the benefit?
• A Banker’s Guide to Drafting Strong Policies and Procedures
• Regulation Silence…Finding Answers to Ensure Flood Compliance
• Components of a Strong Complaint Management Program

New Trends in How the CFPB Gathers Information: Troutman Pepper Consumer Finance Podcast

Join Troutman Pepper Partner Chris Willis for a solo episode as he discusses new trends in CFPB information gathering, specifically Dodd-Frank Act Section 1022 found in the rulemaking and market monitoring section of the CFPB’s authority. Here, Chris examines how the CFPB can request and require certain information from market participants, noting the significant increase in recent CFPB Section 1022 requests, while also discussing industry implications of this emerging trend.

Biden Calls on Congress to Increase FDIC's Authority Over Failed Bank Execs

President Biden has urged Congress to increase the Federal Deposit Insurance Corporation’s ability to hold accountable executives whose mismanagement contributed to the failure of small and midsized banks like Silicon Valley Bank, which collapsed in mid-March.