Probe into Goldman Sachs’ credit card practices expands
By 
Aaron Nicodemus2023-02-27T17:28:00
Goldman Sachs Group disclosed more regulators—beyond the Consumer Financial Protection Bureau (CFPB)—are investigating its credit card account management practices.
In its annual 10-K report filed Friday, Goldman Sachs said it is cooperating with the CFPB “and other governmental bodies” related to investigations and/or inquiries into the bank’s U.S. credit card account management practices. The bank did not specify which other regulators might be involved in the probes.
In August, Goldman Sachs disclosed only the CFPB was investigating those practices.
THIS IS MEMBERS-ONLY CONTENT
You are not logged in and do not have access to members-only content.
If you are already a registered user or a member, SIGN IN now.
Related articles
-
News BriefDiscover sued by investors over lax compliance procedures
Discover Financial Services faces a class-action lawsuit from investors alleging materially false and misleading statements regarding its business, operations, and compliance policies.
-
News BriefGoldman Sachs settles CFTC charges over same-day swaps manipulation for $15M
Goldman Sachs will pay a $15 million fine to settle charges from the Commodity Futures Trading Commission it manipulated the execution of same-day swaps to the detriment of unsophisticated clients and for failing to accurately disclose the actual cost of those swaps.
-
ArticleGoldman Sachs unit fined $4M for ESG investment lapses
Goldman Sachs Asset Management agreed to pay $4 million to settle SEC charges it failed to follow its own policies and procedures regarding a trio of investment products marketed for their environmental, social, and governance considerations.
More from Regulatory Enforcement
-
ArticleFrench investigators target anticompetitive practices in largest accounting firms
Major accountancy firms in France are under investigation for anti-competitive practices. The French competition watchdog embarked on a series of “unannounced inspections” and removed documents relating to audit and reporting on Jan. 13.
-
ArticleEU investigation into Grok may expose problems with DSA rather than compliance failings
The European Commission has launched a formal investigation against Elon Musk’s X under the Digital Services Act over fears that its AI tool Grok may be producing and disseminating illegal material.
-
ArticleFormer ADM execs inflated operating profits, SEC alleges
Three former executives at Archer-Daniels-Midland intentionally misled investors by inflating the performance of the company’s Nutrition unit, the U.S. Securities and Exchange Commission has alleged.