New York Community Bank Receives $1 Billion Lifeline After Stock Plummets

Former Treasury Secretary Steven Mnuchin will join the bank’s board of directors.
New York Community Bank Receives $1 Billion Lifeline After Stock Plummets
A screen displays the trading information for New York Community Bancorp on the floor at the New York Stock Exchange (NYSE) in New York on Jan. 31, 2024. Brendan McDermid/Reuters
Andrew Moran
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New York Community Bancorp will live to see another day after announcing a substantial capital infusion and a notable leadership shakeup involving a former Trump administration official.

After days of liquidity concerns, the struggling regional bank reached an agreement with several investment firms to shore up its balance sheet and restore client and shareholder confidence.

Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."
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