![The revelation of "material weaknesses" in NYCB's internal controls sparked new Wall Street turbulence.](https://nyguardianmag.com/wp-content/uploads/2024/03/NY-Guardian-27-720x480.png)
NYCB Faces Turmoil Amidst Internal Control Weaknesses
New York Community Bancorp (NYCB) encountered fresh turmoil on Wall Street following the revelation of “material weaknesses” in its internal controls, a substantial $2.4 billion hit to earnings, and the replacement of