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'Legal Nightmare' Feared in Russia Suit Against Bank of New York Mellon May Set RICO Precedent By JULIE SATOW, Staff Reporter of the Sun | June 30, 2008 http://www.nysun.com/business/legal-nightmare-feared-in-russia/80947/ The final stages of a $22.5 billion battle pitting the Bank of New York Mellon against the Russian Federation will begin today in a Russian court. Stephen Chernin/Getty A December 2006 picture of a Bank of New York branch just before the bank acquired Mellon Financial Corp. The decision in the money laundering suit, which may be handed down as early as this week, could set a precedent for the global...

(Reuters) - Bank of New York Mellon Corp told some of its biggest depositors this week it does not want their money. BNY Mellon said it is charging a fee to big corporate and asset management clients that deposit more money than average, because it has been overwhelmed by deposits. Global economic turmoil -- including the Greek debt crisis and the U.S. debt ceiling debate -- has driven BNY Mellon's large clients to sell riskier assets and move the proceeds to deposit accounts. The flood of cash is likely to raise BNY Mellon's U.S. deposit insurance fees and could weaken...