US regional bank stocks fall amid Wall Street concern over credit markets

Zions and Western Alliance reveal problems with bad loans as scrutiny of regional banks’ lending practices increases

US regional banking stocks fell sharply on Thursday after two banks disclosed issues with bad and fraudulent loans, amplifying concerns on Wall Street around the state of credit markets.

Zions Bancorp announced it had a $50m charge-off over two bad loans from its subsidiary, California Bank & Trust in San Diego. Western Alliance also said it was dealing with a fraudulent borrower.

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from The Guardian https://ift.tt/JHW0r6z

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