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The custodian bank is paying a $115 million penalty for overcharging clients from 1998 to 2015.
State Street will be paying a criminal penalty of $115 million and entering into a deferred prosecution agreement (DPA) in a resolution of a federal case involving charges of fraud against custody customers, according to the U.S. Justice Department and the firm. The settlement with the Justice Department is an acknowledgment from State Street that...
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