July 15, 2010 / 10:55 PM / 10 years ago

SEC voted 3-2 to settle with Goldman Sachs

WASHINGTON (Reuters) - The U.S. Securities and Exchange Commission voted 3-2 to settle fraud charges with Goldman Sachs, sources familiar with the matter said on Thursday.

The two Republican SEC commissioners, Troy Paredes and Kathleen Casey, voted against the settlement. They also dissented when the SEC decided to file fraud charges against the bank.

Goldman agreed to pay $550 million to settle charges over how it marketed a subprime mortgage product, the SEC said on Thursday.

Reporting by Rachelle Younglai; Editing by Phil Berlowitz

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