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Kiplinger
Kiplinger
Business
Kathryn Pomroy

Apple Card Fail: Apple and Goldman Sachs Fined $89 Million

Apple Goldman Sachs CFPB Apple Card
An apple is being picked from a tree, but there is a rotten hole in the middle.

Love the Apple Card and Apple products? If so, you may be interested to know that the Consumer Financial Protection Bureau (CFPB) has ordered Apple and Goldman Sachs to pay more than $89 million in penalties for the mishandling of customer disputes and misleading customers about payment options for Apple devices.

The CFPB is also banning Goldman Sachs from introducing a new credit card unless the company can provide a credible plan that the product will comply with the law. In fact, if Goldman Sachs makes another attempt to enter the credit card market, the CFPB plans to police the company to avoid repeat offenses.

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