AppleInsider is supported by its audience and may earn commission as an Amazon Associate and affiliate partner on qualifying purchases. These affiliate partnerships do not influence our editorial content.
The bank revealed the investigation in a quarterly 10-Q form filed Thursday with the Securities and Exchange Commission. According to the filing, the Consumer Financial Protection Bureau (CFPB) is probing Goldman Sachs’ credit card account management practices, refunds, and billing error resolutions.
However, it’s likely that the investigation is centered on the Apple Card. Other than a co-branded credit card with General Motors, the Apple Card represents Goldman Sachs’ only consumer credit card product.
This is not the first time that Goldman Sachs has been investigated for credit card products. In 2019, the bank was accused of discriminatory behavior on allegations that longer lines of credit were distributed based on gender.