The Consumer Financial Protection Bureau has announced fines totaling $89 million against Apple and Goldman Sachs over Apple Card issues.
The Consumer Financial Protection Bureau has announced fines totaling $89 million against Apple and Goldman Sachs because the companies “illegally mishandled transaction disputes and misled iPhone purchasers about interest-free payment options” with the Apple Card. The CFPB says the issues affected “hundreds of thousands of Apple Card users.” Apple didn’t send “tens of thousands” of Apple Card transaction disputes to Goldman Sachs, according to the CFPB.
The CFPB says Apple will have to pay a $25 million civil money penalty that will go into the CFPB’s victims relief fund. Goldman Sachs will have to pay “at least” $19.8 million in redress, a $45 million civil money penalty, and cannot introduce a future credit card product before giving the CFPB “a credible plan for how the product will comply with the law.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Apple and Goldman Sachs ordered to pay over $89 million for Apple card failuresApple and Goldman Sachs were fined more than $89 million for mishandling consumer disputes of Apple Card transactions, the CFPB said.
Read more »
Apple and Goldman Sachs ordered to pay $89M after Apple Card failuresThe U.S. Consumer Financial Protection Bureau ordered Goldman Sachs and Apple to pay $89 million, and Goldman was temporarily banned from issuing new credit cards due to mishandling the Apple Card partnership.
Read more »
Apple and Goldman Sachs ordered to pay more than $89 million for Apple Card failuresApple and Goldman Sachs were fined more than $89 million for mishandling consumer disputes of Apple Card transactions, the CFPB said.
Read more »
Apple, Goldman Sachs ordered to pay more than $89 million over Apple Card failuresApple and Goldman 'illegally sidestepped' their obligations to Apple Card customers, federal regulators say.
Read more »
US watchdog orders Goldman Sachs, Apple to pay $89 million over consumer failuresUS watchdog orders Goldman Sachs, Apple to pay $89 million over consumer failures
Read more »
Apple lowers interest rate for Apple Card Savings once againIzzy, a tech enthusiast and a key part of the PhoneArena team, specializes in delivering the latest mobile tech news and finding the best tech deals. Her interests extend to cybersecurity, phone design innovations, and camera capabilities.
Read more »