So Far So Good: Investment Bank Passes First Set of Compliance Tests Settlement

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So Far So Good: Investment Bank Passes First Set of Compliance Tests Settlement

Sep, 20th 2016

Goldman Sachs is meeting its consumer relief requirements as part of its $5 billion settlement reached in April over toxic mortgage bonds, a new report from the settlement’s monitor showed.

The report, published Friday by Eric Green, who serves as independent monitor of the settlement, showed that Goldman Sachs passed its first round of compliance testing for the consumer relief portion of its settlement with the Department of Justice; the New York and Illinois Attorneys General; the National Credit Union Administration, acting as conservator for several failed credit unions; and the Federal Home Loan Banks of Chicago and Seattle.

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