Apple and Goldman Sachs are ordered by the US to pay $89 million for customer failures

The U.S. Consumer Financial Protection Bureau said Wednesday that Apple and Goldman Sachs, two of the biggest corporations, will pay $89 million to resolve consumer protection breaches in their joint credit card operation.

The agency claims that the two businesses mismanaged transaction disputes and deceived iPhone consumers about whether their purchases were truly interest-free by collaborating to finance Apple customers’ purchases using Apple’s credit card.

The notice also stated that Goldman Sachs will be subject to limitations on issuing new credit cards, fines, and consumer remedies.

According to CFPB Director Rohit Chopra, hundreds of thousands of Apple Card customers were impacted by the misbehavior.

“This resulted in unfair charges, mismanaged disputes and damage to credit reports,” he told reporters, and ”resulted in real damage to real people.”