Newsday: NYCB pledges $28 billion for minority, low-income programs pending Flagstar merger

Newsday, January 27, 2022, NYCB pledges $28 billion for minority, low-income programs pending Flagstar merger

New York Community Bancorp Inc., whose merger with a Michigan thrift remains stalled by regulators, has pledged $28 billion in loans and other programs to benefit minority and low-and-moderate income families and businesses.

The five-year Community Pledge Agreement hinges on the closing of the merger with Flagstar Bancorp Inc., said the statement by Hicksville-based NYCB.

In an earnings conference call Wednesday, NYCB chairman and chief executive Thomas Cangemi said the program should break the regulatory logjam.