The bank was also charged with false reporting in connection with ISDAFIX benchmark rates and with false reporting of U.S. dollar Libor rates during the financial crisis to protect its reputation.
The bank's decision came after the CEO of the troubled marketplace lender stepped down, a recent memo says.
Goldman Sachs Sees ‘Headwinds Across Virtually Every’ Business Line As Bank Releases Dour First-Quarter Earnings
Reporting a steep earnings drop for the first quarter, financial giant Goldman Sachs is feeling the pain in its investment banking and trading divisions.
A first-quarter earnings drop of 27 percent is the sharpest so far among big U.S. banks. Weakness in overseas markets hasn't helped.
The bank's profit decline is the biggest among big U.S. banks that have reported first-quarter results so far.
The company has already started trimming its operations, and is increasingly rejecting bankers’ spending on travel, hotels and entertainment, Bloomberg reported.
JPMorgan Chase, the first of the big U.S. banks to report quarterly earnings, posted higher-than-expected revenue and profit Wednesday.
Up to 70 traders and salespeople could be let go from the U.S. bank's London operation, according to a Bloomberg report. The bank expects that key revenue streams declined in the first quarter of 2016.
The agreement will reportedly allow Sharp to borrow from its lenders if the deal goes through.
Wall Street CEOs, including Goldman Sachs' Lloyd Blankfein, expressed bewilderment at the scale of the 2008 financial crisis, newly released documents show.
The government’s decision came after the money center bank’s $7 billion settlement resolving in 2014 federal and state civil claims related to mortgage bonds.
The bank announced that it had been subpoenaed over potential ties to alleged bribery and money laundering in world soccer.
The bank reportedly dismissed its chief U.S. Treasuries trader after a disagreement over compliance measures.
Beyoncé’s halftime show performance has been generating controversy over a perceived anti-police message.
Federal regulators ruled Citigroup must allow shareholders to vote on a measure that would require the bank to study the feasibility of splitting up.
More than 60 such banks handled $152 billion in transactions last year, prompting government action.
The controversial daily fantasy sports industry was dealt a blow Friday when Citigroup refused to service payments made by its credit and debit cards to two of the biggest operators in the business.
Argentina is under pressure to comply with a court order to repay its debts before accepting any new lines of credit.
The bank also posted better-than-expected quarterly profit Tuesday, helped by deep cuts in salaries and other cost cuts over the past year.
U.S. equities got hammered in Friday's session joining a global sell-off as investors worry about China and oil prices. Jeanne Yurman reports.
The deal has yet to get approval from shareholders and regulators, and the transaction is targeted to close mid-2016, according to reports.
The slowdown in China’s growth has hit oil prices hard from the demand side, but supply issues could still bring more shocks.
These trades have allegedly allowed investors to move money from one country to another in violation of sanctions placed on Russia after its annexation of Crimea.
Housing prices, which surged at double-digit growth rates across major Australian cities in the last two years are set to cool off, according to a report by a property search firm.
The credit rating agency's move comes amid growing uncertainty over whether the U.S. Federal Reserve will prop them up in a crisis.
The giant San Francisco bank is under investigation for its 'pressure cooker' sales approach, the Wall Street Journal reports.
For the first time, executives at major banks are under investigation for criminal wrongdoing during the subprime mortgage crisis.
The move comes as Chinese insurers seek to invest abroad amid sluggish economic growth across several sectors back home.
Standard & Poor’s said Monday that the banks may be in for a downgrade if it assesses the prospects of any future government support to be "uncertain."
Financial Crisis Fallout: Lawsuit Seeks $2.4 Billion From Citigroup Over Bailout-Era Tax Liabilities
An Indiana professor's lawsuit claims the bank owes New York State $2.4 billion over bailout-era tax irregularities.