Judge Lewis Kaplan has given an approval for BNY Mellon to pay 714 to clients claiming the bank defrauded them in foreign-exchange transactions for over a decade. This allows 1,200 clients to receive payments from the bank within 30 days. The bank agreed to the settlement as part of a larger $$335mm resolution with the New York state, regulators and clients.
Judge Lewis Kaplan has given an approval for BNY Mellon to pay $335m to clients claiming the bank defrauded them in foreign-exchange transactions for over a decade. This allows 1,200 clients to receive payments from the bank within 30 days. The bank agreed to the settlement as part of a larger $714m resolution with the New York state, regulators and clients.