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

I want to extend a tremendous thank you for your dedication, professionalism, hard work and patient demeanor through this challenging time. It was enjoyable interacting with everyone on your team, this certainly helped while dealing with the situation and working towards resolution.

Dan M.

LATEST NEWS AND ARTICLES

December 11, 2025
DOJ Secures Five-Year Prison Sentence in Wolf Capital Crypto Fraud Case

Federal prosecutors have obtained a five-year prison sentence for Travis Ford, an Oklahoma resident who admitted to orchestrating a fraudulent crypto investment scheme through Wolf Capital.

December 10, 2025
SEC Highlights Rising Risks in RIA Consolidation and Focuses on Retailer Investor Protection

The Securities and Exchange Commission signaled heightened scrutiny of investment advisers involved in mergers and acquisitions, according to its newly released 2026 Examination Priorities.

December 9, 2025
The Vanishing Boundary Between Investing and Gambling

According to Bloomberg Law, there now are the tools, tactics, and a psychology of gambling that increasingly resembles those of retail trading.