Tr?id=566623520170033&ev=PageView&noscript=1

CFPB Investigates Goldman’s Credit Card Business

Posted on August 18th, 2022 at 1:04 PM
CFPB Investigates Goldman’s Credit Card Business

From the Desk of Jim Eccleston at Eccleston Law.

Goldman Sachs has announced that the Consumer Financial Protection Bureau (CFPB) is investigating its credit card business.

The CFPB is probing several areas, including how the bank satisfies customer refunds and settles billing disputes, according to Goldman’s most recent securities filing. The CFPB is additionally investigating Goldman’s advertising and how it relays consumer information to credit bureaus, according to Goldman.

Credit-card lending is vital to the bank’s plan to grow its consumer finance business, which is projected to generate nearly $4 billion in annual revenue by 2024. Goldman initially launched its credit card unit through a partnership with Apple, Inc. in 2019. Goldman also offers credit cards in partnership with General Motors.

Eccleston Law LLC represents investors and financial advisors nationwide in securities, employment, regulatory and disciplinary matters.

Tags: eccleston, eccleston law, cfpb

Return to Archive

TESTIMONIALS

Previous
Next
Quotes Bigger

If you find yourself in trouble with the regulators, call Eccleston Law, you won't regret it.

Rick R.

LATEST NEWS AND ARTICLES

1787947445 Law
August 28, 2026
SEC Accuses Goliath Ventures of $425 Million Crypto Investment Ponzi Scheme

The Securities and Exchange Commission (SEC) has filed a civil complaint against Goliath Ventures Inc.

1787852053 Law
August 27, 2026
United Capital Revives Lawsuit Against Osaic

According to AdvisorHub, United Capital Financial Advisors has revived its lawsuit against independent broker-dealer Osaic by filing an amended complaint that reframes the dispute around the alleged misuse of confidential information obtained during Osaic's unsuccessful effort to acquire the firm.

1787765850 Law
August 26, 2026
FINRA Orders WestPark Capital to Pay $520,000 Over GWG L Bond Sales

The fallout from the collapse of GWG Holdings continues to affect the broker-dealers that sold the company's illiquid L bonds.