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BNY Mellon Aims to Curb Costs, Expand Wealth Unit

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As it waits for the fee income that will come once interest rates rise, Bank of New York Mellon will continue to try and control costs and focus on expanding its asset management and asset ...

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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