NCUA included in $5B Goldman Sachs RMBS settlement

The National Credit Union Administration (NCUA) will be included in the $5 billion settlement reached between Goldman Sachs and the U.S. Financial Fraud Enforcement Task Force’s Residential Mortgage-backed Securities (RMBS) Working Group, an agency spokesperson told News Now Friday.

The NCUA is unable to comment further with any details, but will release more information once the settlement is finalized.

“We’re glad NCUA is included in this settlement and look forward to learning more details,” said Bill Hampel, CUNA’s chief policy officer.

Goldman Sachs announced an agreement in principle last week to resolve actual and potential civil claims by the NCUA (acting as conservator for several failed corporate credit unions), along with the U.S. Department of Justice, attorneys general from New York and Illinois and the Federal Home Loan Banks of Chicago and Seattle.

continue reading »

More News