New York Community Bancorp Shares Plunge 26% Amid Leadership Changes and Internal Control Issues
  • 2 months ago
Shares of New York Community Bancorp fell more than 26% on Friday after the regional lender announced leadership changes and disclosed issues with its internal controls. NYCB said Alessandro DiNello, the executive chairman, will take on the additional roles of president and CEO, effective immediately. The bank also disclosed "material weaknesses" in its internal controls related to internal loan review resulting from ineffective oversight and monitoring. NYCB has faced pressure recently due to concerns about its commercial real estate exposure.
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