Apple and Goldman Sachs have been fined nearly 90 million dollars together by regulators over the Apple Card partnership.
Some of the stuff they got fined for is a wtf for me, but other things make sense.
The wtf part was the following.
Apple promoted the card as having no fees. Which it doesn't, no annual fees, no late fees, no international fees and so on. They never promoted it as having no interest and when you sign up you get an APR like any other credit card. However, Apple is being fined because they promoted the no fees and then didn't explicitly tell people on Apple.com during checkout that they would be charged interest for their purchase. People assumed it would be interest free, even though nothing on the website at checkout said it would be. Unless you decided to do a 12 month installment plan with your Apple Card available for certain items, which does in fact list the transaction as having 0% interest.
People complained when they used the Apple Card as any other Credit to pay for a purchase not using the installment option when they were charged interest. I guess they assumed it would be interest free even though nothing told them it would be. Because Apple advertised "fee free" regulators sided with the customers and since Apple did not explicitly inform them that their credit card would charge them interest at the time of sale, they got fined.
The part that I get and makes a lot of sense is about disputed charges. Apple and Goldman Sachs did not have a good system in place at launch to ensure that all disputed charges were forwarded to Goldman Sacks, and the Disputes that were forwarded or directly reported to Goldman Sachs, Goldman Sachs in many cases were not processes in a timely manner or at all resulting in customers being stuck with the disputed charges and sometimes having negative credit reporting because of it. All of that has been resolved and only existed in the first few months of the partnership until they figured things out, however they are now being fined for it a few years later.