Reported about 1 year ago
The U.S. Securities and Exchange Commission asked New York Community Bancorp (NYCB) to provide more information in its preliminary proxy statement, particularly regarding its recent capital raise and efforts to reduce exposure to the commercial real estate sector. The SEC requested revisions on eight different matters, including clarifying the board's risk oversight function and updating progress on addressing weaknesses in the loan review process. NYCB revised its proxy statement in response, and the SEC completed its review in late-April. NYCB has faced challenges after cutting dividends and reporting losses due to CRE sector exposure.
Source: YAHOO