“Shark Tank” star Kevin O’Leary said Tuesday that commercial real estate difficulties could lead to “a real run” on regional banks when interest on commercial real estate loans increases.
S&P Global downgraded Associated Banc-Corp., Comerica Inc., KeyCorp, UMB Financial Corp. and Valley National Bancorp Wednesday, while also giving two other banks a negative rating as interest rates for loans increased due to the Federal Reserve hiking interest rates to combat inflation. Moody’s, another major credit agency, announced earlier this month that ten banks had their rating lowered, Reuters reported.