money laundering through Bank of New York, House Banking Chairman Jim Leach vowed on Wednesday to hold public hearings in September.

The banking company's role in an alleged money laundering scheme came to light Aug. 19, when The New York Times reported that billions of dollars had passed through a Bank of New York account owned by a company with ties to a reputed Russian mobster. The company has been cooperating with the government and says it is not a target of the investigation.

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