Chief executive of embattled bank steps down after company reports ‘material weaknesses’ in internal controls
New York Community Bancorp (NYCB) came under fresh pressure on Wall Street after reporting “material weaknesses” in its internal controls, booking a $2.4bn hit to earnings and replacing its chief executive.
Shares in the bank tumbled 19% in after-hours trading on Thursday, extending its extraordinary rout on the stock market.
More Stories
Osamu Suzuki obituary
How could Trump’s second term affect DEI initiatives in the US?
Americans stocking up on foreign goods before Trump tariffs: ‘a sense of urgency’