The Consumer Financial Protection Bureau (CFPB) brought the action.
Goldman for its part wanted to expand beyond investment banking into consumer lending.
From reading the CFPBspress release, it sounds like that reputation followed it to the Apple Card.
Apple and Goldman Sachs have been sanctioned over their introduction of the Apple Card.Noah Berger / Getty
The CFPB outlined several other issues it identified with the Apple Card.
The biggest one centers around the dispute process.
So it makes sense that the CFPBs issues with Apple center around technical problems.
Another one relates to how Apple communicated customer disputes to Goldman.
The partnership between Goldman Sachs and Apple was fraught from the beginning.
Goldman has altogether decided to give up consumer lending and return to what it knows best.
Its unclear what bank might take over the credit card if Goldman is able to cut ties.
Ultimately, theApple Card isnt even very good.
And they dont have the other restrictions like managing your account through an iPhone.
Other cards also offer other benefits like lounge access and purchase protection that the Apple Card does not.
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