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NYCB shares soar 30% after troubled regional bank announces $1 billion capital raise

  • New York Community Bancorp is receiving over $1 billion from investors, including Steven Mnuchin, to help the troubled bank.
  • Joseph Otting, former comptroller of the currency, will become the bank's CEO, causing the stock to fluctuate heavily.
  • After a $1 billion infusion, NYCB's stock initially surged but later fluctuated, ending the day at $3.46.
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Associated Press NewsAssociated Press News
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Embattled New York Community Bancorp gets $1 billion cash infusion, adds Steven Mnuchin to its board

Embattled New York Community Bancorp is getting a lifeline of more than $1 billion as a group of investors plug cash into the troubled bank. The deal will bring four

·United States
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Wall Street Journal broke the news in New York, United States on Wednesday, March 6, 2024.
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