United States of America: Issued CFPB order against Apple and Goldman Sachs including penalties for mishandling transaction disputes and misleading customers about interest-free payment options
Description
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 …
Scope
Policy Area
Consumer protection
Policy Instrument
Quality of Service requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
consumer protection authority