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Goldman Sachs Set Aside $1.45B for Mortgage Related Legal Fees

August 6, 2015 | Posted in : Defense Fees / Costs, Expenses / Costs, Legal Bills / Legal Costs, Legal Spend

A recent The Street story, Goldman’s $1.45 Billion in Legal Fees Show Financial Crisis Fallout Still Lingers,” reports that Goldman Sachs set aside $1.45 billion for mortgage-related legal fees and costs.

During an earnings call with analysts, Goldman Sachs CFO Harvey Schwartz declined to give much information about the nature of the firm’s litigation costs, aside from saying they were related to an ongoing investigation tied to the Residential Mortgage-Backed Securities Working Group.  The group is part of the U.S. Financial Fraud Enforcement Task Force created by President Obama in 2009, to prosecute crimes related to the financial crisis.