Goldman Sachs has reached a $5 billion settlement as part of a federal and state probe into its role in the sale of mortgages in the years leading up into the housing bubble and subsequent financial crisis.
Goldman will pay $2.39 billion in civil monetary penalties, $875 million in cash payments and provide $1.8 billion in consumer relief in the form of mortgage forgiveness and refinancing. The settlement, announced late Thursday, was reached between Goldman and the U.S. Department of Justice, the attorneys general of Illinois and New York and other regulators.
credits to nydailynews.com
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