Goldman Sachs and Apple have agreed to pay over $89 million to resolve allegations of misleading customers and mishandling disputes related to their Apple Card joint venture. The CFPB found that the companies engaged in unfair and deceptive practices, including failing to properly handle customer disputes and misrepresenting interest-free payment plans. This settlement highlights the ongoing scrutiny of big tech companies and their financial practices.
Apple is lowering the interest rate on its Apple Card high-yield savings account for the third time this year, bringing the annual percentage yield (APY) down to 4.10%. This follows recent adjustments by the Federal Reserve, and the rate now aligns with other high-yield savings accounts offered by Discover, American Express, and Capital One. Despite the reductions, the Apple Card savings account remains competitive with a higher APY compared to the national average.
