Fla. AG, BNY Mellon Reach $28M Deal In Pension Fund Row

Law360, New York (November 1, 2013, 7:31 PM EDT) -- Florida’s attorney general said Friday she has reached a $28 million settlement with Bank of New York Mellon Corp., ending a suit that accused the bank of cheating a state pension fund out of millions by inflating the costs of foreign currency transactions.

Attorney General Pam Bondi said the agreement fully compensates the state for its past foreign currency trades and ensures transparency on the pricing of future trades. The settlement also resolves allegations against the bank concerning investments it made on behalf of the Florida...
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