BREAKING: ANOTHER REGIONAL BANK IN TROUBLE: Trading of New York Community Bancorp Halted on NYSE
Another regional bank is in trouble.
Trading of Long Island lender New York Community Bancorp halted on the New York Stock Exchange after its shares tumbled more than 40%.
The Wall Street Journal reported on Wednesday that NYCB is looking for a cash infusion.
Update: NYCB announces $1 billion capital raise on Wednesday afternoon.
“Struggling New York Community Bancorp announced a $1 billion capital raise and a leadership shakeup on Wednesday, headlined by former Treasury Secretary Steve Mnuchin.” CNBC reported.
CNBC reported:
Shares of struggling New York Community Bancorp. fell more than 40% on Wednesday amid reports that the regional bank is seeking a cash infusion.
