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Violation Tracker Individual Record

Company: Bank of New York Mellon
Current Parent Company: Bank of New York Mellon
Penalty: $72,500,000
Year: 2019
Date: June 17, 2019
Offense Group: consumer-protection-related offenses
Primary Offense: consumer protection violation
Secondary Offense: investor protection violation
Violation Description: Bank of New York Mellon agreed to pay over $72 million to settle litigation alleging it overcharged holders of American Depository Receipts for the conversion of foreign currency dividends into U.S. dollars.
Level of Government: federal
Action Type: private litigation
Court: Southern District of New York
Civil or Criminal Case: civil
Case ID: 1:16cv212
Case Name: In re: The Bank of New York Mellon ADR FX Litigation
Private Lawsuit Resolution Type: settlement
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking
Source of Data: (click here)
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Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.