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

I want to thank you for your excellent professional representation. It was greatly appreciated.

Michael M.

LATEST NEWS AND ARTICLES

1786636784 Law
August 13, 2026
FINRA Orders Centaurus Financial to Pay $1.1 Million Over Variable Annuity Supervision Failures

The Financial Industry Regulatory Authority (FINRA) has ordered Centaurus Financial Inc.

1786553985 Law
August 12, 2026
Proposed FINRA Enforcement Reforms Draw Mixed Reactions From Industry Participants

A new report recommending changes to the Financial Industry Regulatory Authority's (FINRA) enforcement program has generated mixed reactions from investor advocates, securities attorneys and industry professionals, according to ThinkAdvisor.

1786394861 Law
August 10, 2026
FINRA Fines RBC Capital Markets $275,000 Over Anti-Money Laundering Compliance Deficiencies

The Financial Industry Regulatory Authority (FINRA) has censured and fined RBC Capital Markets $275,000 after determining that the firm failed to establish and implement reasonable anti-money laundering (AML) policies and procedures.