🔥Apple and Goldman Sachs fined over $89 million for misleading Apple Card customers
Apple and Goldman Sachs have been fined a total of $89 million for deceptive practices related to their Apple Card partnership. The Consumer Financial Protection Bureau imposed fines and refunds on both companies for failing to handle consumer disputes and misleading customers about interest-free payment plans. Goldman is also banned from issuing new credit cards until compliance is ensured. Apple disagreed with the allegations, stating that they addressed issues promptly. Apple Card's launch in 2019 through Goldman involved discounts on Apple products for cardholders and a subsequent investigation by the CFPB into the bank's credit card practices.
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Apple and Goldman Sachs have been fined a total of $89 million for deceptive practices related to their Apple Card partnership. The Consumer Financial Protection Bureau imposed fines and refunds on both companies for failing to handle consumer disputes and misleading customers about interest-free payment plans. Goldman is also banned from issuing new credit cards until compliance is ensured. Apple disagreed with the allegations, stating that they addressed issues promptly. Apple Card's launch in 2019 through Goldman involved discounts on Apple products for cardholders and a subsequent investigation by the CFPB into the bank's credit card practices.
👉Read here