NC May Sue Custodians Over FX Trading

The North Carolina Treasurer’s office may sue custodian banks over foreign exchange trading.

The North Carolina Treasurer’s office may sue custodian banks over foreign exchange trading, Reuters reports. Other states, including California, Florida and Virginia, have already filed suits against lenders claiming they overcharged for their services. Bank of New York Mellon and State Street have been named in the suits to date. The lawsuits have alleged lenders charged clients higher prices than those at which they actually executed foreign exchange trades.

Click here for the story from Reuters.