Apple and Goldman Sachs fined over $89 million for ‘Apple Card failures’

Apple and Goldman Sachs have been fined over $89 million by the Consumer Financial Protection Bureau due to issues with the Apple Card. The fine comes after a multi-year investigation into the Apple Card. Apple has released a statement disagreeing with the CFPB's characterization of their conduct but has agreed to the terms. Apple claims the Apple Card is one of the most consumer-friendly credit cards available and was designed to support users' financial health. The company worked with Goldman Sachs to address issues with the card after they were discovered. Apple highlights the card's features such as an interest calculator, Apple Card Family, and no fees. The Path to Apple Card program is also available to help users improve their financial health. Despite initial beliefs, Apple itself will have to pay part of the fine, not just Goldman Sachs. Apple is committed to providing fair and transparent financial products and looks forward to continuing to deliver a great experience for Apple Card customers. The company has aligned with the CFPB on an agreement despite disagreeing with the characterization of their conduct.