CFPB said to fine Goldman over credit card program - Breaking The News
Download our appPlay StoreApp Store

CFPB said to fine Goldman over credit card program

EPA-EFE/JUSTIN LANE

The United States Consumer Financial Protection Bureau (CFPB) is reportedly readying to fine Goldman Sachs for its management of the Apple credit card initiative, with expected penalties exceeding $50 million, the Wall Street Journal reported on Tuesday, citing people with knowledge of the matter.

According to the sources, the enforcement action, expected as soon as this week, stems from an investigation into the bank's customer service procedures. This includes their approach to handling issues related to fraud and refunds, particularly concerning their partnership with Apple on its credit card program.

Penalties could include customer reimbursements. JPMorgan Chase could potentially take over Apple's credit card operations.

Related Stocks
Apple
Goldman Sachs
Related News
Trump: Apple treated very badly by EU
United States President Donald Trump claimed on Wednesday that Apple Inc. has been "treated very badly" by the European Union, referring to the lawsuit over its tax link with Ireland that the company lost.Speaking alongside Irish Taoiseach Micheal Martin, Trump insisted the tech giant had "tremendously bad luck" and that the EU is "after American companies, but insisted he is not criticizing Ireland, but the bloc in general. "I didn't think it was a good lawsuit," he...
Apple to have secret UK court date on customer data
Apple's challenge to a United Kingdom government order requiring access to its customers' most securely encrypted data is expected to be reviewed in a closed High Court hearing on March 14, the BBC reported on Wednesday.The case is set to be reviewed by the Investigatory Powers Tribunal, an independent court responsible for examining claims against UK intelligence agencies. The tech giant initiated legal action earlier this month in response to the Home...
Goldman Sachs CEO eyes IPO growth in 2025
Goldman Sachs CEO David Solomon expressed optimism about a rebound in initial public offerings (IPOs) for 2025, during a Wednesday interview with Fox Business.He noted that while IPO activity has been quiet in recent years, the number of companies preparing to go public has grown significantly, and he anticipates a rise in listings this year. "IPOs have been muted over the last couple of years, the pipeline is larger, and we expect an increase this year,"...
Apple plunges almost 4%, lowest since Sept. 2024
The shares of Apple Inc. slumped on Tuesday, shedding almost 4% and landing at a low unseen since September 2024 as the global trade battle became even messier.The United States and Canada exchanged hits earlier today after US President Donald Trump announced additional duties on steel and aluminum coming from its neighbour. Ontario Premier Doug Ford then reaffirmed he was ready to cut off the electricity supply to the US, after which Trump...

Please observe our Terms of Use. The price information is time delayed to varying extents, but as a rule by 15 minutes or more, according to the regulations of the selected stock exchange and/or licensors and the type of securities.

© 2025 TeleTrader Software GmbH. All rights reserved

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.