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Last fall, Manhattan U.S. Attorney Preet Bharara accused Bank of New York Mellon of giving some of its customers lower rates on foreign currency conversions than they'd been promised. BNY Mellon's lawyers at Kellogg, Huber have now reached a settlement with Bharara's office in which the bank has agreed that it will no longer tell these customers that they're getting the "best execution" of their conversions.
January 18, 2012 at 12:00 AM
1 minute read
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