US pensions funds chasing BNY Mellon again to the courts
BNY Mellon continue to be pursued by the Union pension funds, including Chicago's police pension, over claims related to losses made from residential mortgage-backed securities trusts. Following a dismissal of an appeal made by the funds in December last year against the bank, they have now approached the US Supreme Court to determine whether the bank should be liable under federal law for failing to properly oversee the trusts.

By Evan Weinberger (September 21, 2015, 3:38 PM EDT) -- Union pension funds have asked the U.S. Supreme Court to determine whether Bank of New York Mellon Corp. should be liable under federal law for failing to properly oversee hundreds of residential mortgage-backed securities trusts that collapsed during the financial crisis....

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