$4,165,000,000 in Deposit Flight Hits New York Bank As Federal Reserve Chair Jerome Powell Warns More Lenders Will Collapse
A New York-based bank is witnessing the exodus of billions of dollars in deposits amid an industry-wide warning from Fed Chair Jerome Powell. New York Community Bank’s (NYCB) new earnings report shows total deposits fell from $81.365 billion at the end of start of the year to $77.2 billion on March 6th – a drop...