Apr
11
Goldman Sachs Resolves U.S. Mortgage Probe for $5.1 Billion
By-
Fifth bank accord over conduct stemming from financial crisis
-
Justice Department cites `serious misconduct’ in RMBS sales
Goldman Sachs Group Inc. will pay $5.1 billion to resolve U.S. allegations that it failed to properly vet mortgage-backed securities before selling them to investors as high-quality debt.
New York-based Goldman Sachs, which announced details of the accord in January, will pay a $2.39 billion civil penalty, make $875 million in cash payments and provide $1.8 billion in consumer relief, according to a Justice Department statement…
Goldman Sachs Resolves U.S. Mortgage Probe for $5.1 Billion
