Goldman Sachs to pay $5.1 billion mortgage settlementStaff writer ▼ | January 15, 2016
Goldman Sachs Group has reached a nearly $5.1 billion tentative settlement of a federal and state investigation of its handling of mortgage-backed securities before the national financial crisis.
Fine After an investigation
The company said the settlement would reduce the bank's fourth-quarter 2015 earnings, scheduled to be announced Wednesday, by approximately $1.5 billion on an after-tax basis.
"We are please to have reached an agreement in principle to resolve these matters," Goldman chairman and CEO Lloyed Blankfein said in a statement announcing the deal. ■