Regulatory failures are blamed for the financial troubles at NYCBancorp, as US banking regulators approved deals that contributed to the bank's woes. The Office of the Comptroller of the Currency greenlit NYCB's $2.6 billion merger with Flagstar Bank despite concerns.
The Office of the Comptroller of the Currency approved New York Community Bank's $2.6 billion merger with Flagstar Bank even though banking regulators feared the deal could contribute to financial problems at the New York bank https://t.co/yev9h69RzC https://t.co/FHTB7kIGEP
"The Flagstar-NYCB merger should never have been allowed…on the merits at the time." https://t.co/8SeUw85cI0
Insight: US regulators greenlit NYCB's rapid growth, even with red flags https://t.co/k4OIfnmC8q https://t.co/V6mLx3zXi0
A US banking regulator could have stopped New York Community Bank from pursuing a deal that has contributed to its financial woes. Instead, they signed off on it https://t.co/yev9h6appa https://t.co/sSJqa7LN1u
⚠️ US REGULATORS GREENLIT NYCB'S RAPID GROWTH, EVEN WITH RED FLAGS Full Story → https://t.co/V5dAZYmcQu A U.S. banking regulator could have stopped New York Community Bank from pursuing a deal that has contributed to its financial woes. Instead, they signed off on it. https://t.co/eWRltCP9Pm
What happened to facing the consequences if you fail take on too much risk & fail to operate a bank properly? $NYCB 📕👇 We live in an age where a bank can, 1) Lever up with near 0 repercussions 2) Fail at internal risk management & controls 3) Operate at insane debt levels… https://t.co/qAuzC7nVgn
The escalating troubles at #NYCBancorp are no accident and could have been avoided. Regulatory failures made it possible. https://t.co/BNM04qB8uT