
The Justice Department, along with federal and state partners, announced a $5.06 billion settlement with Goldman Sachs related to Goldman's conduct in the packaging, securitization, marketing, sale and issuance of residential mortgage-backed securities between 2005 and 2007. The resolution required Goldman to pay $2.385 billion in a civil penalty under the Financial Institutions Reform, Recovery and Enforcement Act and also required the bank to provide $1.8 billion in other relief, including relief to underwater homeowners, distressed borrowers and affected communities, in the form of loan forgiveness and financing for affordable housing. Goldman was also to pay $875 million to resolve claims by other federal entities and state claims. For more info visit https://www.justice.gov/opa/pr/goldman-sachs-agrees-pay-more-5-billion-connection-its-sale-residential-mortgage-backed