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

  • Fifth bank accord over conduct stemming from financial crisis
  • Justice Department cites `serious misconduct' in RMBS sales
Bloomberg business news

Goldman Pays $5.1 Billion to Settle U.S. Mortgage Probe

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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.