NCUA Recovers $575 Million in Goldman Sachs Settlement

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Title : NCUA Recovers $575 Million in Goldman Sachs Settlement

NCUA Recovers $575 Million in Goldman Sachs Settlement

The National Credit Union Administration (NCUA) recovered $575 million from Goldman Sachs $5 billion settlement with the U.S. Department of Justice over faulty mortgage-backed securities sold to failed corporate credit unions.

The settlement resolves two lawsuits filed by NCUA as liquidating agent for three corporate credit unions — U.S. Central, WesCorp and Southwest — against Goldman Sachs.

Gross recoveries from NCUA's lawsuits over faulty mortgage-backed securities sold toe five failed corporate credit unions now surpass $3 billion.

Read the press release.

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