United States of America: CFPB investigation into Apple and Goldman Sachs over allegations of mishandled transaction disputes and misleading payment options
Progress
Current status
in force
23 Oct 2024 in force
Scope
Implementers
United States of America
Policy Area
Consumer protection
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Government Branch
executive
Government Body
consumer protection authority
Implementation Level
national
Timeline of events
Issued CFPB order against Apple and Goldman Sachs including penalties for mishandling transaction disputes and misleading customers about interest-free payment options
On 23 October 2024, the Consumer Financial Protection Bureau (CFPB) issued an enforcement order against Apple and Goldman Sachs for mishandling transaction disputes related to the Apple Card. The CFPB found that both companies violated the Truth in …
Event type
investigation
Action type
ruling
Government branch
executive
Government body
consumer protection authority