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What to make of New York Community Bank’s “material weaknesses”
Mar 4, 2024

What to make of New York Community Bank’s “material weaknesses”

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NYCB has already had a rocky year so far. Plus, interest rates aren't included in inflation calculations. What gives?

Segments From this episode

Judges rules against the Corporate Transparency Act

A federal judge in Alabama has struck down an anti-money-laundering law, which made it harder for individuals to hide behind shell companies.

What does it mean for a bank to find “material weaknesses”?

Mar 4, 2024
Regional lender New York Community Bancorp swapped out its CEO last week following the revelation of what it called “material weaknesses in the company’s internal controls.
New York Community Bank acquired nearly $40 billion in assets from Signature Bank last year. That rapid growth can make it hard for internal controls to keep up.
Spencer Platt/Getty Images

The cost of money doesn't factor into the cost of living

You pay more for breakfast cereal. You pay more for credit cards, with interest rates elevated in recent years. So how come the cereal increase is listed as “inflation” but not the higher interest rates? There’s a recent paper published by the National Bureau of Economic Research causing some buzz about this. To help us understand this better, let’s consult Christopher Low, chief economist at FHN Financial in New York.

The team

Leanna Byrne Host, BBC
Kelly Silvera Executive Producer
Meredith Garretson Morbey Senior Producer
Erika Soderstrom Producer
Alex Schroeder Producer
Ariana Rosas Producer
Dylan Miettinen Digital Producer
Jesson Duller Media Producer
Nic Perez Director/Producer
James Graham Producer, BBC
Jo Critcher Producer, BBC
Naomi Rainey Producer, BBC
Lis Mahy Producer, BBC