Mellon Bank Signs Settlement Agreement with U.S. Department of Justice Regarding 2001 IRS Incident
28 Juin 2007 - 10:42PM
PR Newswire (US)
PITTSBURGH, June 28 /PRNewswire-FirstCall/ -- Mellon Financial
Corporation (NYSE:MEL) today announced that its subsidiary, Mellon
Bank, N.A., has entered into an agreement with the United States
Department of Justice whereby Mellon will pay the U.S. government
$16.5 million and the Department of Justice will release Mellon
from any civil or administrative monetary claims under the False
Claims Act in connection with the April 2001 incident in Mellon's
Pittsburgh IRS Processing Unit. Claims under the False Claims Act
were excluded from the settlement that Mellon reached with the U.S.
government in October 2002. Under that earlier agreement, Mellon
reimbursed the Department of the Treasury for costs and expenses
incurred by the government in connection with the IRS returns
processing matter. Today's settlement and the 2002 agreement with
the FMS eliminate any further exposure on Mellon's part to civil
claims arising from the IRS incident. Under a settlement reached
last August with the U.S. Attorney for Western Pennsylvania, the
U.S. Attorney agreed to not prosecute Mellon if Mellon complies
with the terms of the agreement, and Mellon agreed to have an
independent third-party monitor compliance with the settlement for
a three-year period. Mellon Financial Corporation is a global
financial services company. Headquartered in Pittsburgh, Mellon is
one of the world's leading providers of financial services for
institutions, corporations and high net worth individuals,
providing asset management, wealth management, asset servicing,
issuer services and treasury services. DATASOURCE: Mellon Financial
Corporation CONTACT: Media, Ron Gruendl, +1-412-234-7157, , or Ron
Sommer, +1-412-236-0082, , or Analysts, Steve Lackey,
+1-412-234-5601, , or Andy Clark, +1-412-234-4633, , all of Mellon
Financial Corporation Web site: http://www.mellon.com/
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