CFPB Orders Apple, Goldman to Pay $89m for Apple Card Failures

The Consumer Financial Protection Bureau ordered Apple and Goldman Sachs to pay $89m for “customer service breakdowns and misrepresentations that impacted hundreds of thousands of Apple Card users.”

• CFPB says it found that Apple failed to send tens of thousands of consumer disputes of Apple Card transactions to Goldman Sachs
  • When Apple did send disputes to Goldman Sachs, the bank did not follow numerous federal requirements for investigating the disputes: CFPB
• CFPB says failures meant that consumers faced long waits to get money back for disputed charges and some had incorrect negative information added to their credit reports
• CFPB is ...