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Apple and Goldman Sachs Were Fined Nearly $90 Million By the Consumer Financial Protection Bureau — Here's Why
On Wednesday, the Consumer Financial Protection Bureau (CFPB) ordered Apple and Goldman Sachs to compensate customers affected by "customer service breakdowns and misrepresentations" with the Apple Card credit card.
The failures "impacted hundreds of thousands of Apple Card users," according to the CFPB. The agency also noted that Apple and Goldman Sachs ignored "third-party warnings," noting tech issues with the disputes system and that the card wasn't ready for launch.
Related: Apple Moves to Sever Ties With Goldman Sachs — Here's What That Means for........© Entrepreneur
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