Goldman Sachs' $500m programme for US small businesses could help it meet some of its duties under a law aimed at aiding low-income communities – a sign of the demands created by its conversion to a bank holding company last year.
Goldman's decision to earmark $500m to help 10,000 small companies, which was revealed this week, has been seen as an attempt to defuse the public controversy about its huge profits and its plans to pay large bonuses
But people close to the situation said some of the funds could be used to fulfil the requirements of the Community Reinvestment Act, a 1977 law designed to prevent banks from discriminating against minorities and poorer neighbourhoods.
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