Goldman Settlement On Subprime Probe

Goldman Settlement On Subprime Probe

May 11 (Bloomberg) -- Goldman Sachs Group Inc. agreed to a multimillion dollar settlement with the state of Massachusetts related to its packaging of subprime mortgages.

Massachusetts Attorney General Martha Coakley plans to announce the agreement today at a 1 p.m. news conference, according to a statement from her office. The settlement is worth $60 million, the Associated Press reported, without citing a source for the figure. Goldman will provide $50 million to homeowners and pay $10 million to the state, the AP said.

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