What to make of New York Community Banks material weaknesses
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Regional lender New York Community Bancorp has already had a rocky year so far and recently replaced its CEO following revelations of \\u201cmaterial weaknesses.\\u201d NYCB acquired nearly $40 billion in assets last year from the failing Signature Bank, and that rapid growth can make it hard for internal controls to keep up. Also, a federal judge in Alabama struck down an anti-money-laundering law. And interest rates aren’t included in inflation calculations. What gives?
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