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Secret’s out.

For more than a decade, Prudential Financial Inc. has had a confidential arrangement with the U.S. Department of Veterans Affairs to withhold lump-sum payments of life-insurance benefits to the family of dead soldiers, so that Prudential could invest that money and keep whatever cash it made it itself, Bloomberg News reported.

The VA failed to inform soldiers and their families of the agreement. Prudential, the second-largest Read the rest of this entry »