DBA Digest for April 28, 2023

25 Years of Teaching Children to Save!

Governor Carney Proclaims “Teach Children to Save Week”

Delaware Legislature Recognizes Event

Delaware Governor John Carney proclaims 2023 Teach Children to Save Week as David Mench, DBA Director of Government Affairs; Sarah Long, DBA President; Colleen Davis, Delaware State Treasurer; The Great Investo, the World's Worst Money Magician; Penny, his Savvy Assistant; and, Jennifer Magaw, Administrative Specialist, Center for Economic Education and Entrepreneurship, look on. 


Throughout the week of April 24 to April 23, over 100 banker volunteers taught an estimated 4,750 students in more than 200 public, private, and parochial classrooms throughout Delaware as part of the 25th annual Teach Children to Save Day. Over 90 percent of Delaware’s banks participate in the Teach Children to Save Day event, the highest participation rate in the nation. Delaware Governor John Carney proclaimed the week of April 24th “Teach Children to Save Week” during an event at Clayton Elementary School in Smyrna on Tuesday, April 25th. The Delaware Legislature also approved a resolution honoring the effort.

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DFEA Unveils New Comic Book for Teach Children to Save Day! All Students Receive a Copy!

The Delaware Financial Education Alliance released a new comic book for Teach Children to Save Day: The Great Investo and Penny in Big Money Trouble. The book illustrates the concept of scarcity and the benefits of saving regularly to pay for the things wanted. The book was written and illustrated by Greg Koseluk of the Delaware Bankers Association. Each student received their own copy of the comic book. The book is also available on the DBA website (link below).


The book was created specifically for the 2023 Teach Children to Save Day event and was made possible with the support of Barclays, Sallie Mae, Smarty Pig, TD Bank, Wells Fargo, WSFS Bank, Artisans’ Bank, Bank of America, Capital One, Fulton Bank, M&T Bank, Visa, Comenity Bank, First Citizens Community Bank, and Shore United Bank.

Comic Book

DBA 128th Annual Meeting & Dinner - May 11 -

DuPont County Club - Philadelphia Union's David Debusschere Keynote Speaker!

Register today 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 with the Philadelphia Union.


Register

Women Connect Networking Event

May 18-19, 2023


Don't miss 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. The agenda includes: “Conversations with Women” Gender Equality, Advocacy, and a Pathway for Change, with Carol Arnott-Robbins; Kaisha Blackstone, BASSic Black Entertainment; Senator Sarah McBride; and, Dr. Sunny Fink, MD Transplant Surgery, Crozer Health. “The 6 Pillars of Self Care” and “Building Self Care into Your Life,”with Sarah Mayland. Follow the links below for full agenda details and to register!

Register

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

Bank of America Private Bank Market Minute

Major U.S. stock indexes were slightly lower for last week, remaining rangebound after corporate earnings and economic data failed to generate a breakout in either direction. The S&P 500 ticked down 0.1% on the week as defensive sectors outperformed while the Communication Services and Technology sectors underperformed. The Chicago Board Options Exchange (CBOE) Volatility Index (VIX), the so-called fear gauge measuring the expected volatility of the S&P 500, fell to its lowest level since late 2021. Crude oil suffered its first weekly loss (-5.6%) since the middle of March. S&P Global released surveys showing stronger-than-expected reads of manufacturing and services for the U.S. The Services Purchasing Managers’ Index (PMI) improved to 53.7 from 52.6 while the Manufacturing PMI improved to 50.4 from 49.2 (back in expansion territory over 50). Overseas, a consumer price release showed inflation lingering above double digits for the United Kingdom at 10.1% year-over-year (YoY) (10.4% previously) largely due to elevated food prices. China’s gross domestic product (GDP) grew at a faster-than-expected rate of 4.5% YoY, as its retail sales grew 10.6% YoY. This week, a heavy slate of earnings is due, with Big Tech set to report. Also due: An initial read on Q1 2023 U.S. GDP released Thursday and March personal consumption expenditures (PCE) data, the Federal Reserve’s (Fed) preferred metric of inflation, on Friday.

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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.  


Information

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.

 CAPCO Intelligence Blog: Optimizing Your Compliance Management System

With increased regulatory scrutiny, new and amended laws and regulations (i.e., Section 1071), and escalating compliance costs, now is the opportune time for financial institutions to take a close look at their Compliance Management System (CMS) to ensure it is operating effectively and efficiently. History has shown that an ineffective CMS may lead to substantial fines and penalties; an inefficient program simply costs too much. Read Capco’s Intelligence Blog linked below for additional insights.


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