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FBC - New York Community Bancorp Flagstar get Fed approval for merger
Flagstar Bancorp Inc.
New York Community Bancorp ( NYSE: NYCB ) and Flagstar Bancorp ( NYSE: FBC ) received Federal Reserve approval for NYCB's acquisition of FBC, the companies announced Monday.
The Fed approval marks the last approval needed for the deal to close. The deal is expected to close on Dec. 1, according to a statement.
The Fed news comes after the banks received approval from the Office of the Comptroller of the Currency for NYCB's late last month.