Goldman Sachs

On April 10, 2026, the Federal Reserve formally terminated its 2018 enforcement action against Goldman Sachs, which had originally imposed a $54.75 million civil money penalty for unsafe and unsound practices and internal control deficiencies in the bank's FX trading operations. The Fed cited Goldman Sachs' improved compliance controls as the basis for closure. While Goldman Sachs is not a BaaS/sponsor bank, the termination is relevant as a signal of the Fed's posture toward resolving legacy enforcement actions. This action represents regulatory relief rather than new enforcement.

Verified from source: The Federal Reserve terminated its 2018 enforcement action against Goldman Sachs over FX trading flaws, citing improved compliance controls. The original 2018 action had imposed a $54.75 million fine for unsafe and unsound practices and gaps in internal controls in forex operations.