NEW YORK, Jan. 15 (UPI) -- Investment banker Goldman Sachs Group Inc. said it will settle a government probe into its mortgage-backed securities sales for $5.1 billion.
It announced in a statement Thursday the proposed agreement will resolve potential claims by the U.S. Department of Justice, the attorneys general of Illinois and New York, and a conservator for several failed credit unions related to the sale of bonds, backed by subprime residential mortgages, from 2005 and 2007.