BNY Mellon Repurchases Preferred Stock

The Bank of New York Mellon has gotten permission to repurchase preferred stock related to the TARP Capital Investment. BNY Mellon Spokesperson Ron Gruendl says the US government purchased the stock last October in part of the program. Also, Gruendl says the coincides with the bank's opening, the first bank to open in the country 225 years ago. He says the company has continued to play a critical role in the global economy, and hopes to continue that 225 years into the future.