Goldman Sachs will pay $5 billion to settle both federal and state inquiries into its sale of "shoddy mortgages," AP's Ken Sweet reports. The sum includes $1.8 billion in mortgage forgiveness and refinancing, $2.39 billion in civil penalties and $875 million in cash payments.
The deal is with the U.S. Department of Justice, the New York attorney general, the Illinois attorney genearl and other regulators.
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