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1. Two States Go After Big Bank On Forex.

Author

McGinty, Tom and Mollenkamp, Carrick

Subjects
*CURRENCY transactions, *ACTIONS & defenses (Law)
Abstract

The article reports that attorneys general in Florida and Virginia have separately sued banking company Bank of New York Mellon Corp. for alleged improper pricing of currency transactions Mellon processed for pension funds in those states. A 2008 internal document at the bank said volatility in currency prices helped Mellon achieve greater profits when trading on behalf of institutional customers.

Published
2011

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