Settlement Agreement between Goldman Sachs and the Massachusetts Attorney General on Subprime Loans

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Attorney General Martha Coakley’s Office announced that it has reached a settlement agreement with Goldman Sachs & Co., stemming from the office’s investigation of subprime lending and securitization markets. The Attorney General’s Office has been investigating the role of investment banks in the origination and securitization of subprime loans in Massachusetts, leading to today’s settlement.

To resolve any potential claims stemming from the Attorney General’s investigation, Goldman has agreed to provide loan restructuring valued at approximately $50 million to Massachusetts subprime borrowers.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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