"NYCB Stock Plunges After Attempted Capital Raise Report"

New York Community Bank (NYCB) stock plunged up to 45% after reports of an attempted capital raise, marking an over 80% decline since January. The bank faces challenges following the exit of its CEO, increased loan losses, and weaknesses in internal controls. With options to sell assets, raise capital, or share risk with outside investors, NYCB's turmoil reflects broader concerns about commercial real estate weaknesses impacting other banks. Federal Reserve Chairman Jerome Powell assured lawmakers that the situation is manageable, but investors anticipate NYCB to raise common equity before considering asset sales.