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Violation Tracker Individual Record

Company: Goldman Sachs
Current Parent Company: Goldman Sachs
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
Penalty: $330,000,000
Year: 2013
Date: January 16, 2013
Offense Group: consumer-protection-related offenses
Primary Offense: mortgage abuses
Mega-Scandal: Mortgage Abuses
Violation Description: Goldman Sachs and Morgan Stanley reached agreements in principle with the Federal Reserve Board to pay a total of $557 million in cash payments and other assistance to help mortgage borrowers. The Fed did not announce how the amount would be divided between the two companies but the Wall Street Journal reported on January 17, 2013 that Goldman's share would be $330 million.
Level of Government: federal
Action Type: agency action
Agency: Federal Reserve
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: New York
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: banking & securities
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.