From the Wall St Journal: Bank of New York Mellon Corp. was hit by a one-two legal punch that escalates a currency-trading crisis for one of the nation's largest banks.
The Justice Department and New York's attorney general filed separate civil lawsuits alleging that the bank fraudulently charged clients for currency transactions.
Filed within hours of each other late Tuesday, the suits allege that BNY Mellon defrauded or misled state and public pension funds, private companies, universities and banks in a decade-long scheme of overcharging for foreign exchange.
The move by the U.S. attorney in Manhattan is the first time federal prosecutors have filed a....
Find out more at http://online.wsj.com/article/SB10001424052970203791904576611313866750194.html?mod=WSJ_article_forsub
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