Reported about 1 month ago
Goldman Sachs and Apple have been ordered to pay $89.8 million by the Consumer Financial Protection Bureau (CFPB) for failing to meet their legal obligations to Apple Card customers. The CFPB revealed that Apple did not properly forward consumer disputes to Goldman Sachs, and Goldman failed to meet federal investigation requirements. As part of the total penalties, Goldman will pay $64.8 million while Apple will contribute $25 million, with the regulator also taking measures to restrict Goldman's future credit card offerings.
Source: YAHOO