The Alleged 'Sweeping Betrayal of Trust' that Rocked Zions Bank and Spooked Wall Street

The alleged 'sweeping betrayal of trust' that rocked Zions bank and spooked Wall Street

Zions Bancorporation lost $1 billion of its valuation in a single day on Thursday after disclosing $60 million worth of loans it had made that were unlikely to be repaid.

As Wall Street banks crush records, America's regional banks spook investors—but there's a key difference from when SVB went bust

The tension between Wall Street and Main Street was on display this week as the country’s top banks reported blowout earnings, while regional lenders spooked investors about risks lurking in their loan books. In a regulatory filing on Thursday, Zions Bancorporation disclosed that it believes there were misrepresentations by certain borrowers who did business with its California Bank & Trust unit. As a result, the lender recorded a $60 million lo…