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Goldman, Apple to pay CFPB $89.8M over Apple Card issues https://t.co/bv0akwt52z via @bankingdive
What the latest bad news for the Apple Card means for customers https://t.co/ybOvyPresW
While Apple continues to look for a new home for the Apple Card, Apple and Goldman Sachs have been accused of mismanaging customer accounts. https://t.co/0kwj2H6ECW
The Consumer Financial Protection Bureau (CFPB) has imposed fines totaling $89 million on Apple and Goldman Sachs due to mishandling customer disputes related to the Apple Card. Specifically, Apple is facing a penalty of $25 million, while Goldman Sachs is liable for $64 million. The CFPB's investigation revealed that both companies ignored warnings and failed to adequately investigate customer complaints. This ruling raises questions about the future of the Apple Card as Apple seeks a new partner for its financial services.