Apple and Goldman Sachs hit with $90 million penalty over Apple Card
The Consumer Financial Protection Bureau has ruled that Apple was not ready for Apple Card disputes, and tens of thousands were then not dealt with properly by Goldman Sachs.
Credit firm Goldman Sachs was already losing millions over Apple Card, and is certain to take a hit of a few more millions when it finally gets out of its unhappy marriage with Apple. But now it is also being hit with penalties — and Goldman Sachs is no longer allowed to launch new any new credit card.
The Consumer Financial Protection Bureau (CFPB) has announced that together Apple and Goldman Sachs over issues it says affected hundreds of thousands of Apple Card customers. Specifically, Apple failed to send the details of tens of thousands of disputed transactions to Goldman Sachs — and then the finance firm failed to follow federal investigation requirements.
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Source: AppleInsider News
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