Goldman Sachs is ready to close a major lingering chapter of financial-crisis-era litigation, announcing yesterday that it’s agreed to a civil settlement of $5 billion to resolve claims related to its “marketing and selling of faulty mortgage securities to investors.” Though the details aren’t yet final, early drafts call for $1.8 of that total to take the form of relief to customers – NYTimes and WSJ and Law360

A number that large helps take the bite out of the measly $15 million Goldman also agreed to pay this week—this time to the SEC over allegations that it “filled customers’ short selling orders without ensuring it could borrow enough stock to cover the order” – Law360

China-based Haier is reportedly close to wrapping up a deal for GE’s appliance business for more than $4 billion – WSJ

After years of investor pressure, Morgan Stanley James Gorman has finally started making the lobbied-for cuts on his firm’s bond and commodity desks  – NYTimes and WSJ

Strong Q4 numbers for JPMorgan as we kick off earnings report season once again. America’s largest bank posted profits up 10% from a year ago, beating analyst expectations – NYTimes and WSJ

Breakingviews says the results make a “compelling case” for FinTech – NYTimes

The Basel Committee on Banking Supervision announced updated market-risk rules that will increase “the share of banks’ risk-weighted assets produced by market risk to nearly 10 percent from about 6 percent under existing rules.” Far more riveting regulatory detail here – Bloomberg and Law360

What happens when your religion is Bitcoin and you have a crisis of faith? Just ask Mike Hearn; he knows all about it – NYTimes

Zut alors! Stock in French automaker Renault took a nosedive yesterday after initial reports suggested that it may be facing a VW-style emissions inquiry. Later revelations that investigators had not yet found a smoking tailpipe, as it were, helped reverse some of the damage by the end of the day, but tout n’est pas bien at Renault – NYTimes and Bloomberg

What better way to send off the amazing Alan Rickman than with this fantastic little tribute to his “unforgettable villainy” as Hans Gruber – New Yorker

Have a good weekend.  We’ll see you back here Tuesday morning.