New York Community Bank Raises $1 Billion in Emergency Cash
New York Community Bank, the midsize lender under pressure over its real estate loans and internal management, announced an overhaul on Wednesday that included more than $1 billion in emergency cash, the addition of former Treasury Secretary Steven Mnuchin to its board and the appointment of its third chief executive in a month.The deal was an attempt to shore up a bank that has lurched from shock to shock this year, and attracted the attention of regulators in Washington eager to avoid another banking crisis close to the one-year anniversary of the collapse of Silicon Valley Bank.The investment of more…
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