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Stock impact report

‘The tide went out’: How a string of bad loans has bank investors hunting for hidden risks [MSNBC.com]

Axos Financial, Inc. (AX) 
Company Research Source: MSNBC.com
In this articlewatch nowVIDEO5:2405:24Banks questioned on risks lurking in their balance sheets as NDFI loans surgeClosing Bell: OvertimeBig banks includingorgan ChaseGoldman Sachsblockbuster quarterRegional bankZionsdisclosedWestern AlliancesaidThe result was asudden and deep selloff"When you see one cockroach, there are probably more," organ CEOJamie Dimonsaid this week.Concerns over credit quality had been simmering for weeks after the September collapse of two U.S. auto-related companies. organ, the biggest U.S. bank by assets, this week reported a $170 million loss tied to one of them, the subprime auto lender Tricolor.But it wasn't until a third case of alleged fraud around loans made to NDFIs that investors were jolted into fearing the worst, according to Truist banking analyst Brian Foran."You now have had three situations where there was alleged fraud" involving NDFIs, Foran said.Dimon's comments "really resonated with people who were like, 'Oh, man, the tide went out a littl Show less Read more
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