By Y. Peter Kang (January 14, 2016, 4:56 PM EST) -- Goldman Sachs said Thursday it will pay $5.06 billion to end federal and state investigations in connection with the investment banking giant's underwriting and sale of residential mortgage-backed securities from 2005 to 2007.
Goldman Sachs said as a result of the $5.06 billion settlement, its fourth-quarter earnings will be affected by approximately $1.5 billion on an after-tax basis. (Credit: AP) As part of a deal reached in principle, Goldman Sachs Group Inc. said it will pay a $2.385 billion civil monetary penalty, make $875 million in cash payments and provide $1.8 billion in consumer relief to resolve all claims made by...
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