Time and again, two former associates of President Trump deceived banks in connection with loan applications. Their wealth, proximity to power and willingness to tell big lies all appear to have helped them get away with brazen schemes.
Raises for the rank and file have fueled investor complaints that banks aren’t keeping a lid on expenses. Executives say the pay increases have lowered turnover and improved customer service.
Record loan originations and strong growth in wealth assets under management more than offset a double-digit increase in expenses at the San Francisco company.
Flush with cash, many commercial firms are also opting to pay down debt rather than take on new loans, and those seeking financing aren’t always turning to banks to meet their needs.
