"NYCB's CEO Implements Bold Business Plan Amid Deposit Loss and Rating Review"

New York Community Bank's incoming CEO, Joseph Otting, announced a new business plan after the bank received a $1 billion equity infusion from investors, including Steven Mnuchin's Liberty Strategic Capital. The bank disclosed a 7% decline in deposits and a second dividend cut this year, as it aims to stabilize its stock following a surprise quarterly loss and stricter regulatory requirements. Otting, credited with turning around IndyMac, plans to present the new business plan in late April, while investors focus on the bank's exposure to struggling commercial real estate and recent internal control weaknesses.