1. Suspicion Of Forex Gouging Spreads.
- Author
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Zuckerman, Gregory, Mollenkamp, Carrick, Wei, Lingling, Neumann, Jeannete, and Martin, Katie
- Subjects
- *
FOREIGN exchange , *ACTIONS & defenses (Law) , *BANKING industry - Abstract
The article reports that some banks are believed to have charged large U.S. investment companies excessive amounts for foreign-currency trades. Bank of New York Mellon Corp. is among banks suspected by investment firm BlackRock Inc. of overcharging on trades. Attorneys general in Florida, Virginia, and California have sued custody banks for taking improper profits on currency trades for their clients.
- Published
- 2011