New York Community Bancorp’s stock plunges nearly 30% as CEO exits, bank admits "material weaknesses" in loan oversight. - The Great Awakening

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New York Community Bancorp’s stock plunges nearly 30% as CEO exits, bank admits "material weaknesses" in loan oversight. (finance.yahoo.com)

posted 272 days ago by UnvaxxedUnafraid 272 days ago by UnvaxxedUnafraid +31 / -0

New York Community Bancorp shares plummet as CEO exits amid loan woes

Former president and CEO, Thomas Cangemi, abruptly stepped down after 27 years at the regional bank, which disclosed "material weaknesses" tied to loans.

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– LuvTheSmellofFreedom 2 points 272 days ago +2 / -0

Besides carefully placing new loans, loan oversight is even more important. Its on par with a restaurant failing to cook the food, or collect the money owed.

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