BNY Mellon agrees to deal with Va. on currency trades -documents

NEW YORK Thu Nov 8, 2012 4:38pm EST

NEW YORK Nov 8 (Reuters) - Bank of New York Mellon Corp agreed to deal with Virginia over allegations it overcharged the state pensions plans for currency trades, according to public records and sources.

The terms of the deal between the bank and state officials representing the Virginia Retirement System Fund were not immediately known.

Virginia had sued BNY Mellon in Virginia state court.

BNY Mellon said in a statement that it has renewed its contract with the Virginia state pension. But the bank declined to comment on any deal over the litigation.