Goldman Sachs has completed a 5.1 billion US dollar settlement with state and federal officials over the bank's role in the subprime mortgage crisis. The U.S. Justice Department said Monday that New York families and communities will receive 670 million dollars in cash and consumer relief.

The settlement stems from the bank's conduct in the sale of residential mortgage-backed securities between 2005 and 2007. Investors suffered billions of dollars in losses from the securities bought during the period.

The settlement consists of a 2.4 billion dollar civil penalty and 1.8 billion dollars in other relief, including funds for homeowners whose mortgages exceed the value of their property.