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Goldman Sachs, meanwhile, will pay at least $19.8 million in redress to affected customers, along with a $45 million civil penalty and a temporary ban on issuing new cards.
In 2019, Goldman Sachs made a splash by announcing what it called a “game-changing” credit card with Apple. Five years later, the partnership appears to have fizzled and Apple is reportedly ...
The CFPB alleges that Apple failed to send tens of thousands of consumer disputes of transactions on their accounts to Goldman Sachs. When the tech company did share those reports with the ...
The now-popular credit card runs on the Mastercard network and is deeply embedded into Apple Pay. It is designed primarily to be used on devices like the iPhone or Apple Watch. The CFPB suggested that Apple and Goldman launched Apple Card prematurely, pointing to third-party warnings about technological issues prior to the card's launch.
Apple and Goldman Sachs are being ordered by the Consumer Financial Protection Bureau to pay a combined $89 million in fines stemming from customer service issues with the Apple Card and ...
The CFPB fined Goldman and Apple $89.8 million for mishandling transaction disputes and banned Goldman from launching a new credit card unless it demonstrates "it can actually follow the law."
A federal regulator on Wednesday ordered Apple and Goldman Sachs to pay a combined $89 million for deceiving consumers and mishandled transaction disputes of Apple Card customers. Apple failed to ...
NEW YORK (Reuters) -Four years after Goldman Sachs introduced a credit card with Apple, the Wall Street giant faces a costly exit from a partnership that is seen by other lenders as too risky and ...