Shares of NYCB fall more than 20% after bank discloses ‘internal controls’ issue

(CNBC) The bank has announced an amendment to its fourth-quarter results, adding a disclosure about its internal risk management. “As part of management’s assessment of the Company’s internal controls, management identified material weaknesses in the Company’s internal controls related to internal loan review, resulting from ineffective oversight, risk assessment and monitoring activities,” the company said in a filing with the U.S. Securities and Exchange Commission.

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