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January 15, 2021
2021 Teach Children to Save Day! Sponsorships Available!
This April due to the COVID-19 pandemic, 2021 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.
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. We thank all our member banks and volunteer bankers who have supported this effort.
Sponsorships are available for member banks to help defray the cost of the event. Virtual session will begin with a short introductory video including the names of sponsors. Based on previous years, we anticipate between 8,000 and 10,000 students in 200 to 300 classrooms will receive the lesson and the introductory video. We hope you will join us again in teaching children throughout Delaware the importance of personal saving for future financial independence. Banks interested in sponsoring may contact Sarah Long or Greg Koseluk for more information.
Don’t Forget to Sign Up! Modernizing the Community Reinvestment Act: January 27th 10 a.m. to 11 a.m.
Don’t miss out. Sign up to learn how you can make your voice heard. Join the Federal Reserve Bank of Philadelphia for a webinar where you’ll learn more about the Federal Reserve’s notice asking for public input on the Community Reinvestment Act (CRA) and how to submit a comment. Enacted in 1977 and last significantly revised 25 years ago, the CRA requires financial institutions to help meet the credit needs of all communities they serve, including those of low and moderate income. The Fed now seeks your input to ensure the law’s ongoing effectiveness. Please extend this invitation to your directors, your senior staff, and others within your organization with knowledge of the CRA. Although there is no cost to participate, please register to reserve your spot.
Bank of America Private Bank Virtual Event - Investment Management for Nonprofits Outlook for 2021 - Tuesday, January 19th.
Please Join our panel of experts for a discussion on key economic and market trends for endowments and foundations, and hear about best practices during this time of transition. Tuesday, January 19, 2021, 4:00 p.m. - 5:00 p.m. ET.
Now Available: New Online Courses!
Fundamentals of Commercial Banking; and, Analyzing Repayment Sources!
Andy Keusal, Founder and President, Keusal Learning
We’ve all had to adapt this past year in so many areas of our business, training being one of them. If you will be hiring new credit analysts, lenders, portfolio managers, and others who need skills in financial statement analysis and writing credit documents, and are looking for affordable, effective training for your new hires or current staff, look no further. 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.
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.
Use the Delaware Bankers Association Member Portal for
Online Registrations and More!
Have you checked out the Delaware Bankers Association's online members portal? The portal will provide members easy access to update their personal information and to register and pay online for upcoming DBA events! Log into the portal via the link below, and use the Personal Profile link (on the left hand sidebar) to create your log in.
Troutman Pepper Update:
Congress Passes Corporate Transparency Act
On January 1, as part of the 2021 National Defense Authorization Act, Congress overrode President Trump’s veto to pass the Corporate Transparency Act (Act). The Act requires the Financial Crimes Enforcement Network (FinCEN) to issue regulations implementing reporting requirements for reporting companies to disclose beneficial ownership interests of certain U.S. and foreign entities by January 1, 2022. Although the Act provides a definition of a “reporting company” — a company required to comply with the new requirements — it is likely that FinCEN’s regulations will provide additional guidance to the precise scope of the Act’s applicability. Banks were already subject to certain reporting requirements promulgated under the Bank Secrecy Act, but the Act imposes additional reporting requirements on entities not previously subject to such regulations.