The Fed pointed to insufficient monitoring and due diligence after one of Goldman Sachs’ divisions began accepting “high-risk non-bank clients.” That division was tasked with providing banking infrastructure to those clients.
Estimated reading time: 0 minutes, 18 seconds
The U.S. Federal Reserve has issued a warning to Goldman Sachs after the company apparently signed on some risky fintech clients. So reports Reuters.
The Fed pointed to insufficient monitoring and due diligence after one of Goldman Sachs’ divisions began accepting “high-risk non-bank clients.” That division was tasked with providing banking infrastructure to those clients.