Argentina says US-based BNY Mellon not welcome

BUENOS AIRES, Argentina (AP) — Bank of New York Mellon, which has played a central role in the legal dispute that pushed Argentina into default last month, is no longer authorized to operate in the South American country, the government said Tuesday.

Argentina has revoked the BNY Mellon’s permission to operate because of what Cabinet Chief Jorge Capitanich said was the U.S.-based bank’s failure to comply with its duties as trustee of some of the country’s bonds.