New York Community Bancorp (NYCB) announced on Thursday that it would be getting more than $1 billion from investors to help stabilize the bank, including from a firm run by a former Trump administration Treasury secretary.
The bank will receive $450 million from Mnuchin Liberty Strategic Capital, headed by former Treasury Secretary Steven Mnuchin, as well as a $250 million and $200 million investment from Hudson Bay Capital and Reverence Capital, according to an announcement from the bank. NYCB posted a $252 million loss in the fourth quarter of 2023, sending its stock to the lowest level since 1997 and worrying investors about another potential crisis in the banking sector, accordingto CNN.
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