Struggling regional bank New York Community Bancorp announced a $1 billion capital raise and leadership changes. NYCB agreed to sell new equity to investment firms including Steven Mnuchin's Liberty Strategic Capital. Mnuchin will join the bank's board, and former OCC head Joseph Otting will become CEO. The stock experienced a sharp increase and volatile trading following an announcement, ultimately closing the day with a gain of over 7%. NYCB has faced issues, including loan review weaknesses and credit rating downgrades.
