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Goldman Sachs

The Fed Is About to Drop a $50 Million Penalty on Goldman Sachs (Again)

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Bank employees leaked confidential government info.

The U.S. Federal Reserve is preparing an enforcement action against Goldman Sachs Group Inc related to a leak of confidential government information to one of its employees, the New York Times reported on Monday.

The action will include a penalty of less than $50 million, the Times said, citing people briefed on the matter.

The Fed is also considering taking action against a former Goldman executive who had access to the leaked material, according to the Times, which did not name the former executive.

Representatives for Goldman and the Fed did not immediately respond to requests for comment.

The Fed penalty would come two years after revelations that an employee at the New York Fed, Jason Gross, had leaked sensitive information to a Goldman banker named Rohit Bansal. Gross and Bansal pleaded guilty to theft of government property in November.

Goldman has already paid a $50 million penalty to New York’s Department of Financial Services related to the issue.

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