Zions Bancorporation Faces $50M Charge-Off Amid Cantor Fund Allegations

2025-10-19 00:16

Zions Bancorporation has reported a $50 million charge-off following a $60 million unrecoverable loan loss linked to Cantor Group funds. The bank's stock plummeted 13% after it disclosed in an SEC filing that loans were restructured without its consent, compromising collateral protections. Zions accuses borrowers, including Andrew Stupin, Gerald Marcil, and Deba Shyam, of manipulating loan structures for personal benefit. In a related development, Western Alliance has filed a lawsuit against Cantor, asserting that its collateral remains secure. The situation has sparked a broader selloff in regional bank stocks and heightened scrutiny over collateral management practices within the sector.

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