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Scan for outdated or missing drivers - takes under a minuteDriver Scan →Repair Windows errors before they cause bigger problemsFix Now →Fix the driver behind crashes, sound loss and screen glitchesFind Drivers →On October 23, 2024, the Consumer Financial Protection Bureau (CFPB) announced orders requiring Apple and Goldman Sachs Bank USA to pay a combined $89.8 million over Apple Card practices. The agency cited failures in handling transaction disputes and misleading information about Apple Card Monthly Installments (ACMI). The amounts included consumer redress for Goldman customers as well as civil penalties; they were not one single fine.
How the $89.8 million total breaks down
The combined figure is the sum of three amounts stated in the CFPB orders: Apple’s civil penalty, Goldman Sachs’s consumer redress, and Goldman’s civil penalty.
| Company and payment | Amount | What it represents |
|---|---|---|
| Apple civil money penalty | $25 million | Penalty required by the CFPB order; Apple’s action page later records that Apple paid it. |
| Goldman Sachs consumer redress | $19.8 million | Consumer redress required by the CFPB order. |
| Goldman Sachs civil money penalty | $45 million | Penalty required by the CFPB order. |
| Combined total | $89.8 million | Calculated from the three amounts above. |
The CFPB announced the orders on October 23, 2024. The Apple action page says its order was terminated on September 22, 2025, after the penalty was paid. The CFPB Goldman action page describes the 2024 order but does not establish a later disposition, so the available official status information does not support treating the two orders as having the same current status.
What the CFPB said Apple did
Apple designed the consumer-facing Apple Card account interfaces in the Wallet app, including a feature customers could use to report transaction problems. The CFPB found that Apple failed to send tens of thousands of consumer transaction disputes to Goldman Sachs, the bank responsible for the credit account and dispute investigations.
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The agency also found separate violations concerning ACMI enrollment. It said consumers were misled into expecting that qualifying Apple-device purchases would automatically receive interest-free installment financing. The CFPB also cited misleading information about how refunds were applied when an account carried both ACMI and non-ACMI balances.
What the CFPB said Goldman Sachs did
Goldman Sachs Bank USA extended Apple Card credit and was responsible for investigating disputes submitted to it. The CFPB found violations of the Truth in Lending Act and Regulation Z involving required acknowledgments, investigation and resolution of billing-error notices, and reporting disputed balances before completing required procedures.
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The agency also found unfair practices tied to delays in resolving transaction disputes. It said consumers faced long waits for money back on disputed charges and that some had incorrect negative information added to their credit reports.
Why dispute handling mattered to cardholders
A transaction dispute is not merely a customer-service complaint: federal billing-error rules require specific procedures for acknowledging and investigating qualifying notices. The CFPB’s findings concerned different parts of that process. Apple controlled the Wallet interface and dispute-routing feature; Goldman was responsible for the credit account and for investigating notices it received.
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- It supports Find My, so you can be notified of your wallet’s last known location if it gets separated from your phone.
- Made from durable micro-twill, the material has a smooth and seamless feel.
- The FineWoven material in this accessory is made from 100 per cent post-consumer recycled content and significantly reduces carbon emissions compared to leather.
- The wallet features strong built-in magnets that allow it to effortlessly snap into place on the back of your iPhone.
According to the CFPB, the breakdown meant some disputes were not forwarded to the bank, while other required investigation, resolution, or credit-reporting steps were not handled properly. The consumer effects described by the agency included delayed resolution and, for some people, negative credit-report information that the CFPB said was incorrect.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What ACMI consumers were told
Apple Card Monthly Installments is an installment-financing option for eligible Apple-device purchases. The CFPB’s finding was not simply that some purchases did not receive promotional financing: it said consumers were misled about whether qualifying purchases would automatically be enrolled in the interest-free option.
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- Designed with both style and function in mind, the new iPhone FineWoven Wallet with MagSafe is the perfect way to keep your ID and credit cards close at hand.
- It supports Find My, so you can be notified of your wallet’s last known location if it gets separated from your phone.
- Made from durable micro-twill, the material has a smooth and seamless feel.
- The FineWoven material in this accessory is made from 100 per cent post-consumer recycled content and significantly reduces carbon emissions compared to leather.
- The wallet features strong built-in magnets that allow it to effortlessly snap into place on the back of your iPhone.
The agency also pointed to refund confusion for accounts with both installment-financed and other balances. In that situation, how a refund is applied can affect what a customer still owes and how balances are treated. The order addressed misleading information about that treatment as well as the enrollment expectation.
Order status and official statement
The CFPB’s Apple action page records that Apple paid its $25 million penalty and that the order was terminated on September 22, 2025. The Goldman Sachs action page cited here describes the October 2024 order; it does not establish whether a later public disposition has occurred. Those are distinct records, and Apple’s update should not be read as an update to Goldman’s order.
In prepared remarks, CFPB Director Rohit Chopra said: “The order against Goldman Sachs requires the company to come into compliance with the law.”
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