The long breakup between Apple and Goldman Sachs over their joint credit card has become even messier. The Consumer Financial Protection Bureau announced on Wednesday that it had ordered both companies to pay a total of $89 million for allegedly mishandling disputed transactions and misleading consumers about interest-free payment plans for iPhones and other Apple devices.
The agency said these failures meant consumers faced long waits to get money back for disputed charges, and resulted in some customers wrongly receiving downgrades of their credit scores. The CFPB also said both companies launched the card in 2019 despite warnings from third parties that the system for handling such disputes was not ready due to tech issues.
