Retail & Commercial

Vancouver, Washington's Riverview Bancorp announces Nicole Sherman as its next president and CEO; Happauge, New York-based Dime Community Bancshares is expanding its deposits strategy to Manhattan; UBS hires Guggenheim banker Ananya Das; and more in this week's banking news roundup.

U.K. banks are testing machines that can accept deposits from multiple machines.

The Honolulu bank is raising $165 million through depositary shares, a move that two observers said would help boost its below-average leverage ratio.

A federal judge granted a preliminary injunction sought by industry groups that sued to block a Colorado law. The law, which would cap interest rates on consumer loans, targets partnerships between fintechs and out-of-state banks.

PeoplesBank and Cornerstone Bank entered into an agreement to combine their holding companies in a deal slated to close early in 2025. The banks would continue to operate separately.

In a win for credit card issuers, a lawsuit challenging the Consumer Financial Protection Bureau's $8 credit card late fee rule will remain in a Texas court and not be transferred to Washington, D.C.

Financial services professionals should be in the business of normalizing discussions about personal finance. The result will be a more financially literate population, and that's good for everyone.

AI tools, such as large language models, offer the promise of increased efficiency; but they also carry with them potential legal and regulatory risks. Financial service providers will need to find a way to strike the right balance as technological advancements continue to emerge.

The collateral that supports commercial and industrial loans is generally weaker than in commercial real estate, where banks can take over a devalued office building. Analysts say the loans merit a closer look as commercial bankruptcies rise.

The Canadian institution will offer cross-border banking services, financing, wealth management and more with its new TD Innovation Partners platform.