Goldman Sachs and Apple Fined $89 Million for Credit Card Violations

Corporate giants Goldman Sachs and Apple will pay $89 million for violations of consumer protection laws in their joint credit card business that affected hundreds of thousands of people, the U.S. Consumer Financial Protection Bureau announced Wednesday.

In a partnership to finance Apple customers’ purchases through the Apple credit card that Goldman is now seeking to unwind, the two companies allegedly mishandled transaction disputes and misled iPhone purchasers about whether their purchases were in fact interest-free, according to the agency.

Read more at Reuters.