Goldman Sachs Resolves U.S. Mortgage Probe for $5.1 Billion

April 11, 2016 3:17 PM

20 0

Goldman Sachs Group Inc. will pay $5.1 billion to resolve US 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.

Also read: 2 Abu Dhabi banks to merge into largest Gulf Arab bank

Read more

To category page

Loading...