Apple Cards Customer Service Was So Bad It Caused a $90 Million Fine
The Consumer Financial Protection Bureau (CFPB) has levied a combined $90 million penalty against Apple and Goldman Sachs for issues related to the Apple Card. The CFPB gave the penalty as a result of failures in customer service and misrepresentations made to card users.
Apple and Goldman Sachs Fined $89 Million by CFPB for Apple Card Failures
While Apple continues to look for a new home for the Apple Card, the tech giant and its current issuer have been accused of mismanaging customer accounts.
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.
Apple and Goldman Sachs ordered to pay $89 million after Apple Card failures
The US Consumer Financial Protection Bureau ordered Goldman Sachs and Apple to pay $89 million, and Goldman was temporarily banned from issuing new credit cards, because of the companies’ mishandling of their Apple Card partnership.
US fines Apple and Goldman Sachs over Apple Card
The United States fined Apple and Goldman Sachs a total of $89 million on Wednesday, accusing them of deceiving users of the iPhone maker's credit card.
Apple And Goldman Sachs Fined Over $89 Million For Misleading Apple Card Customers
Apple and Goldman Sachs will pay over $89 million in combined fines and refunds because of failures stemming from the companies’ Apple Card partnership, according to U.S. regulators Wednesday, which temporarily blocked Goldman from issuing new credit cards.
Goldman and Apple pay $89M over alleged Apple Card consumer violations
Apple and Goldman Sachs have agreed to pay $89 million for alleged gross customer service failures related to Apple Card, the Consumer Financial Protection Bureau (CFPB) said Wednesday.
Credit Cards
Credit cards provided by banks or other businesses allow people to purchase goods and services on a line of credit. Customers will be charged interest if they do not pay their credit card statement in ...
KSAT1h
Struggling with medical debt? Here’s how a consumer watchdog is taking action to protect patients
Medical debt is a growing issue in the US, with many patients stuck paying bills they may not owe. The Consumer Financial ...
nationalmortgageprofessional.com2d
CFPB Finalizes New Rule Expanding Consumer Financial Data Privacy Rights
The Consumer Financial Protection Bureau (CFPB) finalized a rule today that's expected to expand consumers rights, privacy, ...
USA Today15d
Victim of fraud? Protections are different for debit, credit cards.
Debit cards offer direct access to your bank ... The Electronic Fund Transfer Act, which is implemented by the Consumer Financial Protection Bureau's Regulation E, covers electronic fund ...
What Are Consumer Protection Laws?
Consumers have rights that protect them from scams and fraud. Certain consumer protection laws can help in particular ...
US Banks Brace for Open Banking Era of Consumer Data Sharing
US banks will now have to give customers access to their financial data after the top consumer watchdog finalized a ...
American Banker9h
Bread Financial beats on revenue, misses on earnings
2024 guidance was unchanged in the third quarter, assuming no impact from the Consumer Financial Protection Bureau's ...
'Open banking' rules for consumer data unveiled by US watchdog
The top U.S. consumer finance watchdog on Tuesday unveiled long-awaited rules that would make it easier for consumers to ...
MarketWatch29d
What Is the Consumer Financial Protection Bureau (CFPB)?
Created in response to the 2008 financial crisis, the Consumer Finance Protection Bureau (CFPB) is an independent federal government agency that aims to protect consumers from mistreatment by ...