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How Did Apple Card Failures Cost Apple and Goldman over $89M?
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Subscribe25 OCT 2024 / BUSINESS
Apple and Goldman Sachs have been fined $89 million and Goldman temporarily banned from issuing new cards by the Consumer Financial Protection Bureau (CFPB) due to mishandling the Apple Card operation. The mishandling resulted in unresolved customer charge disputes, incorrect credit reports, and misleading information about the card’s interest-free plans, damaging trust from customers and sparking a need for improved process transparency and compliance.
Think your Apple Card is hassle-free? Think again. Goldman Sachs and Apple just got slapped with a $89 million fine and Goldman was temporarily banned from issuing new cards due to their mishandling of the Apple Card partnership. This means many customers...
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