WAL Stock Falls as Bank Writes Off $126.4M After Jefferies Payment Failure
Western Alliance Bancorporation charges off $126M loan after payment failure by Jefferies; files lawsuit for breach and fraud while offsetting losses through gains and cuts.
Western Alliance Bancorporation charges off $126M loan after payment failure by Jefferies; files lawsuit for breach and fraud while offsetting losses through gains and cuts.
Shares of Zions Bancorp and Western Alliance tumbled after disclosing loan fraud tied to distressed commercial mortgages. This adds to wider concerns about asset quality, following bankruptcies like Tricolor and First Brands, and raises questions about regional lenders' risk exposure.