Two regional US banks, Zions Bancorp and Western Alliance Bancorp, disclosed problems with loans involving allegations of fraud. Zions Bancorp disclosed a $50 million charge-off for a loan underwritten by its wholly-owned subsidiary, California Bank & Trust, while Western Alliance said it’s dealing with a borrower that failed “to provide collateral loans in first position.” Sally Bakewell reports on Bloomberg Television.
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Zions, Western Alliance Disclose Bad Loans
