"NYCB Struggles to Raise Equity Capital Amid Stock Plunge"

New York Community Bancorp's stock tumbled as much as 47% as the lender attempts to raise equity capital to restore investor confidence amid a challenging year marked by dividend cuts, increased provisions for loan losses, and a change in leadership. The company is working with advisers, including Jefferies Financial Group Inc., to gauge investor interest in buying stock. NYCB, a major lender to owners of apartment buildings and offices in New York, has seen its credit ratings downgraded to junk and faces pressure from rapid growth through acquisitions.