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Oct 25, 01:15 PM
CFPB Fines Apple $25M and Goldman Sachs $64M Over Apple Card Issues Totaling $89 Million
Law
Business

CFPB Fines Apple $25M and Goldman Sachs $64M Over Apple Card Issues Totaling $89 Million

Authors
  • Entrepreneur
  • CNET
  • Morning Brew ☕️
8

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.

Written with ChatGPT (GPT-4o mini).

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