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Shares of NYCB fall more than 20% after bank discloses 'internal controls' issue, CEO change - TL;DR CNBC

Shares of NYCB fall more than 20% after bank discloses 'internal controls' issue, CEO change

Publishing timestamp: 2024-03-01 10:44:03


Summary

NYCB's executive chairman takes on roles of president and CEO amid concerns about exposure to commercial real estate. The bank also disclosed issues with internal controls, leading to a 26% drop in shares. Leadership changes and challenges in the regional banking sector are highlighted.


Sentiment: NEGATIVE

Tickers: NYCB

Keywords: banksbreaking news: marketsnew york community bancorp incbusiness news

Source: https://www.cnbc.com/2024/02/29/shares-of-nycb-fall-more-than-10percent-after-bank-discloses-internal-controls-issue-ceo-change.html


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