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Apple and Goldman Sachs ordered to pay $89 million over Apple Card failures
Regulators say the companies hurt hundreds of thousands of users of the credit card, which Apple launched in 2019.
Now, government regulators say Apple and its partner Goldman Sachs caused harm to hundreds of thousands of cardholders by mishandling disputed transactions and by using deceptive marketing practices. “The companies violated consumer financial protection laws through their practices related to Apple Card,” said CFPB Director Rohit Chopra in prepared remarks on Wednesday. “We worked diligently to address certain technological and operational challenges that we experienced after launch and have already handled them with impacted customers,” said Nick Carcaterra, a spokesperson for Goldman Sachs, adding that the company is pleased to reach a resolution with the CFPB.
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