The Traderszone Network

Published in TZ Latest News 24 February, 2015 by The TZ Newswire Staff

Exclusive: BNY Mellon in forex settlement talks with U.S., N.Y. – sources

Bank of New York Mellon Corp (BK.N) is in settlement talks with the U.S. Justice Department and New York attorney general over claims the bank defrauded clients in foreign exchange transactions, according to sources familiar with the matter. BNY Mellon last week revealed that it would take a $598 million charge as it sought to resolve matters including “substantially all” foreign exchange litigation it faced, though it did not specify which cases.

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