Apple and Goldman Sachs Fined More Than $89 Million For Apple Card Issues
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The Consumer Financial Protection Bureau (CFPB) fined Apple and Goldman Sachs more than $89 million Wednesday for illegally mishandling transaction disputes and misleading consumers about interest-free payment options.
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The Consumer Financial Protection Bureau (CFPB) fined Apple and Goldman Sachs more than $89 million Wednesday for illegally mishandling transaction disputes and misleading consumers about interest-free payment options.
While Apple continues to look for a new home for the Apple Card, the tech giant and its current issuer have been accused of mismanaging customer accounts.
Corporate giants Goldman Sachs and Apple will pay $89 million for violations of consumer protection laws in their joint credit card business that affected hundreds of thousands of people, the U.S. Consumer Financial Protection Bureau announced today.
Apple and Goldman Sachs are being ordered by the CFPB to pay a combined $89 million in fines stemming from customer service issues with the Apple Card and regulatory violations.
The US Consumer Financial Protection Bureau ordered Goldman Sachs and Apple to pay $89 million, and Goldman was temporarily banned from issuing new credit cards, because of the companies’ mishandling of their Apple Card partnership.
