Apple and Goldman 'illegally sidestepped' their obligations to Apple Card customers, federal regulators say.
Apple and Goldman Sachs must pay more than $89 million over failures related to their joint Apple Card, federal financial regulators announced Wednesday.The Consumer Financial Protection Bureau said the companies provided inadequate customer service and misrepresented transactions and card features to hundreds of thousands of Apple Card users.' Apple and Goldman Sachs illegally sidestepped their legal obligations for Apple Card borrowers,' CFPB Director Rohit Chopra said in a statement.
''Upon learning about these inadvertent issues years ago, Apple worked closely with Goldman Sachs to quickly address them and help impacted customers,' the company added. 'While we strongly disagree with the CFPB's characterization of Apple's conduct, we have aligned with them on an agreement. We look forward to continuing to deliver a great experience for our Apple Card customers.
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