Goldman Hit With Probe Into Credit-Card Business by CFPB (1)

Goldman Sachs Group Inc. is facing a probe into its nascent credit-card business, adding another headache for the Wall Street giant’s pursuit of the masses.

The Consumer Financial Protection Bureau is looking into the company’s credit-card practices, including how it resolves incorrect bills and processes refunds, Goldman said in a regulatory filing Thursday. The probe is also examining advertisements and how Goldman credits “nonconforming payments” and reports information to credit bureaus.

The bank is cooperating with the investigation, a spokesman for the New York-based firm said.

Goldman made a splashy entrance into the business in 2019 with the launch of ...