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Mellon Financial

Large Banks Quietly Pile Up 'Janitors' Insurance Policies

Original publication date: 
Thursday, May 2, 2002 - 00:00

Some of America's biggest banks -- including Bank of America Corp., J.P. Morgan Chase & Co., and Bank One Corp. -- hold billions of dollars in so-called janitors insurance on their present and former employees. But investors may have a hard time finding much information in their Securities and Exchange Commission filings.

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