In a recent congressional trade report, Katherine M. Clark (D), a congresswoman representing Massachusetts's 5th congressional district, reported two stock transactions. Both transactions involved stocks of New York Community Bancorp , Inc. (NYSE:NYCB), the embattled New York-based bank that has plunged 70% this year.
The first transaction was made from the Judith S. Clark Irrevocable Trust, with the sale amount ranging between $1,001 and $15,000. The second transaction was from the Katherine M. Clark Separate Share Trust, also with a sale amount in the same range. Both transactions were made on March 1, 2024, and reported on April 2, 2024.
The Katherine M. Clark Separate Share Trust was described as being inherited on April 5, 2019. The report did not provide further details about the Judith S. Clark Irrevocable Trust.
These transactions are a part of the regular disclosure made by congress members as required by the STOCK Act. The Act mandates that federal legislators disclose their financial trades to prevent any potential conflicts of interest and maintain transparency.
It's important to note that these transactions do not necessarily reflect Clark's views on New York Community Bancorp, Inc.'s future performance. Investors should always conduct their own research or consult with a financial advisor before making investment decisions.