In the midst of discussions with federal regulatory bodies last month, Republican Congress Member Nicole Malliotakis purchased stock in a bank that then took over the assets of the failing Signature Bank — sending the value of her new stocks soaring.
Malliotakis purchased between $1,000-$15,000 in New York Community Bancorp shares on March 17, two days before it was announced that an NYCB subsidiary, Flagstar Bank, would take over 40 branches of Signature Bank and purchase more than $38 billion of its deposits, the Wall Street Journal first reported.
