Consumer complaint received 2024-12-03 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Credit card company isn't resolving a dispute about a purchase on your statement
Company: GOLDMAN SACHS BANK USA
State: UT

Complaint narrative:
My name is XXXX XXXX XXXX XXXX This is my second time filing a complaint against Apple Card ( managed by Goldman Sachs Bank USA ) due to repeated mishandling of disputes regarding unauthorized transactions, failure to comply with applicable consumer protection laws, and ongoing harm to my financial standing. Despite a prior CFPB investigation, during which Goldman Sachs wrongfully denied my claims, no satisfactory resolution was reached. Additionally, Goldman Sachs was subject to a recent settlement with the CFPB due to systemic failures in their dispute resolution process, further demonstrating the severity and ongoing nature of this issue. This is my final request for resolution before pursuing legal action for maximum damages as permitted by law. 

Details of the Violations : Failure to Properly Investigate and Resolve Disputes ( 15 U.S.C. 1666 ) : I promptly reported all unauthorized transactions under the following dispute numbers : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX Despite timely reporting and providing documentation, Goldman Sachs failed to properly investigate or resolve these disputes. Their initial investigation was flawed, resulting in unauthorized charges being re-applied without providing the required merchant evidence. 

Applicable case law : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX  ), which establishes that creditors must present sufficient evidence to justify reversing chargebacks. 

Failure to Provide Adequate Dispute Resolution Notices ( 12 C.F.R. 1026.13 ) : I did not receive acknowledgment letters or proper outcome notices for my disputes, violating clear regulatory requirements. Instead, I was subjected to inconsistent information from customer service representatives and unexplained reversals of credited amounts. 
Applicable case law : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX where failure to adhere to dispute resolution procedures resulted in creditor liability. 
Unlawful Reapplication of Unauthorized Charges Without Validation ( 15 U.S.C. 1643 ) : Under TILA, my liability for unauthorized charges can not exceed {$50.00} unless the creditor provides clear and convincing evidence of liability. Goldman Sachs failed to provide such evidence and re-applied unauthorized charges to my account. 
Applicable case law : Regulation Z Interpretations ( 12 C.F.R. Pt. 1026, Supp. I, Paragraph 1026.13 ( e ) ( 2 ) ( iii ) -1 ), requiring that disputes be resolved in favor of consumers when merchants fail to provide validation. 

Prior CFPB Settlement : The CFPB previously reached a settlement with Goldman Sachs for systemic failures in their handling of consumer disputes. This case aligns directly with the violations outlined in that settlement, including failure to investigate claims thoroughly, provide proper notifications, and adhere to regulatory timelines. Despite that settlement, Goldman Sachs practices remain noncompliant, as demonstrated by my experience. 

Actions Taken : I filed disputes through Goldman Sachs platform, providing all requested documentation to support my claims.

I requested evidence of merchant validation, but Goldman Sachs repeatedly failed to provide it.

Temporary credits were reversed without explanation, and my account was subsequently closed and reported as charged-off, damaging my credit score. 

Below I have attatched one my statements to locate my account. You can find my account under XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX

Company response to consumer: Closed with explanation