Again: Big Banks Ripping Off Its Customers

According to this Wall Street Journal: "Bank of New York Mellon Corp. has been fighting accusations that it took advantage of clients while trading currencies." Basically the Bank of New York Mellon Corp. gave its customers the worst price, or near the worst price, for currency transactions they did for pension funds. This is no big surprise, but it's nice to see the WSJ actually investigating these matters. I think there would be an even more interesting story in how banks rip off average consumers, but at least this is a good start toward some transparency.