Apple and Goldman Sachs have been fined over $89 million by the Consumer Financial Protection Bureau (CFPB) due to Apple Card failures. The CFPB found issues with consumer dispute handling, misleading interest-free payment plans and refund mismanagement. Apple and Goldman Sachs launched the Apple Card despite warnings about system readiness. While Goldman Sachs faces the bulk of fines, Apple will pay a $25 million penalty. Apple stated it disagrees with the CFPB’s characterization but has aligned with the agency on an agreement, emphasizing its commitment to consumer-friendly financial products.
Read more – https://9to5mac.com/2024/10/23/apple-card-goldman-sachs-fine/
