“Goldman Sachs said that its credit-card business is being investigated by the Consumer Financial Protection Bureau over a range of billing and payments practices. The bank disclosed the probe in a quarterly filing on Thursday, saying that regulators were examining its “account management practices, including with respect to the application of refunds, crediting of nonconforming payments, billing error resolution, advertisements, and reporting to credit bureaus.” While New York-based Goldman made no mention of its partnership with tech giant Apple in the filing, most of the bank’s $11.84 billion in card loans through the second quarter were from the Apple Card.”
Goldman Sachs, Bank Behind the Apple Card, Says Regulators are Investigating its Credit Card Practices
CNBC
