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

We just wanted to say thanks for your work in helping us get back some of the money we lost. We are not by any means rich, but we have saved some money and we have done so through a tight-fisted approach to most everything we do. So losing a significant chunk of money hurt…especially at a time when everyone else was growing their accounts. We really appreciate the work you did.

Allan and Adele

LATEST NEWS AND ARTICLES

December 3, 2025
FINRA Sanctions Former Morgan Stanley Broker Over Unauthorized Transfers

A longtime Morgan Stanley financial advisor agreed to a $5,000 fine and a two-month suspension after FINRA found that he executed multiple transfers from his former spouse’s retirement account without proper authorization, as reported by AdvisorHub.

December 2, 2025
Crypto's Leverage Shakeout Exposes Structural Risks

The crypto market’s recent downturn erased nearly $20 billion in leveraged positions within hours and half a trillion dollars in market value over a single weekend.

December 1, 2025
UBS Winds Down Funds as First Brands Bankruptcy Ripples Through Global Markets

UBS Group AG has begun liquidating two invoice finance funds with direct exposure to First Brands Group, marking one of the earliest moves by a major financial institution to contain the fallout from the bankrupt auto-parts supplier’s collapse, as reported by Bloomberg Law.