Beneath David Solomon, Goldman has been seeking to increase its shopper enterprise because it seeks to diversify its income streams past buying and selling and funding banking.
AFP by way of Getty Photos
Goldman Sachs’ bank card enterprise is being investigated by a high US shopper watchdog, the financial institution disclosed in a regulatory submitting on Thursday.
The investigation by the Client Monetary Safety Bureau consists of scrutiny of the financial institution’s bank card account administration practices, refunds and billing error decision, in accordance with the submitting.
Goldman stated it was cooperating with the CFPB.
Beneath its chief government officer, David Solomon, the financial institution has been seeking to increase its shopper enterprise because it seeks to diversify its income streams past buying and selling and funding banking.
The financial institution has a bank card partnership with Apple, following the launch of a card with the iPhone maker in 2019. It additionally presents a co-branded bank card with Normal Motors.
The Wall Road large additionally stated it had diminished its credit score publicity to Russia by over 13% within the second quarter. Citigroup, however, noticed its Russia publicity climb by $500 million because the ruble firmed.
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