The Dallas bank reported sizable growth in business and mortgage lending in the second quarter, but it more than doubled its provision for loan losses to cover four credits that went into nonaccrual status.
The unit’s profits plunged in the second quarter as the company contended with the fallout from overcharging wealth management clients. Was it a one-off or the beginning of a long-term problem?
Financial institutions are beginning to get on board with the global fight against climate change, but they are still trailing pension funds and insurance companies in putting these concerns into action.