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Apple and Goldman Sachs Fined $89 Million by CFPB
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 must pay $89 million for mishandling Apple Card transactions, CFPB orders
Wednesday’s CFPB action orders refunds for consumers and penalties for both companies. Apple is required to pay a $25 million penalty, the CFPB said, and Goldman a $45 million penalty and at least
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.
NerdWallet
1d
CFPB Fines Apple, Goldman Sachs Over Apple Card ‘Failures’
Apple and Goldman Sachs have been ordered to pay almost $90 million over handling of disputed charges and other issues ...
Hosted on MSN
19h
The CFPB fines Apple millions for Apple Card
The
CFPB
said mismanagement from both companies affected thousands ... In a statement, an Apple spokesperson said “Apple ...
2d
on MSN
New CFPB rules aim to boost competition in financial services
The Consumer Financial Protection Bureau (CFPB) on Tuesday unveiled rules intended to increase competition that would require ...
Digital Transactions
17h
How the CFPB’s Data Privacy Rule for Open Banking Could Impact Merchants’ Swipe Fees
Swipe fees, on cards are paid by merchants and are typically 2% to 4% of the transaction. In comparison, fees for pay-by-bank ...
13h
This Week In Credit Card News: What Open Banking Rules Could Mean For Consumers
But the first so-called open banking rules in the U.S. aims to change that. New rules finalized by the CFPB on Tuesday will ...
JD Supra
1d
CFPB Finalizes Open Banking (Section 1033) Rule
On October 22nd, the Consumer Financial Protection Bureau ("CFPB") issued its final open banking rule, which implements ...
2d
New CFPB rule aims to make switching banks easier by requiring free release of personal data
The Consumer Financial Protection Bureau announced a final rule that will allow consumers to switch banks more easily by ...
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