Consumer complaint received 2025-01-21 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Other features, terms, or problems — Other problem
Company: GOLDMAN SACHS BANK USA
State: CA

Complaint narrative:
Additional information has surfaced regarding Goldman Sachs Bank USA 's handling of my Apple Card payment plan enrollment. The company 's response to my prior complaint contained false information and introduced statements that contradict previous communications I had with their representatives. Furthermore, the company ignored my initial request to review the recorded phone call and failed to mention it in their response. I respectfully request that the Consumer Financial Protection Bureau ( CFPB ) conduct a thorough investigation into their practices. 

Issues Raised : Misrepresentation of Payment Plan Options ( Violation of 12 U.S.C. 5531 - UDAAP ) : Goldman Sachs claimed that I was provided with all available payment options and that no misinformation was given. However, during my phone conversation with a representative named XXXX on XX/XX/year>, I was informed that I should have been offered a XXXX payment plan that would have allowed me to retain my Apple Card including spending privileges. This contradicts their response stating that no such option was available, which may constitute an unfair and deceptive practice. Their response also included the statement : " The Bank has no record of the Customer being advised that the account was eligible for any additional payment plans. '' This statement introduces an omission, as my complaint never claimed that I was requesting a new payment plan but rather that I was not informed about the existing XXXX plan, as stated by the representative XXXX. This further demonstrates the company 's use of evasive and deceptive tactics to avoid releasing the call recording. 
Failure to Provide Recorded Evidence ( Violation of 12 CFR 1006.42 - Record Retention ) : The conversation on XX/XX/year>, was conducted over a recorded line. I formally request that the CFPB compel Goldman Sachs to provide a copy of this recording to verify my claims. Their refusal to disclose the recording raises concerns about record retention and transparency requirements. As a consumer, I have the right under the Fair Credit Reporting Act ( FCRA ) and related regulations to access and verify information that directly impacts my financial decisions. The company 's failure to even acknowledge my request for the recording in their response raises further concerns about their compliance with record-keeping obligations. 

Refusal to Unenroll from the Payment Plan ( Violation of 12 CFR 1026.9 - Account Modification Disclosures ) : During the same conversation, I explicitly requested to be unenrolled from the payment plan, but XXXX informed me that unenrollment was not possible. When I expressed my intent to initiate a stop payment through my bank, I was told that there was nothing the company could do. This refusal to modify or cancel the agreement violates my right to clear and fair disclosure of account modification options. Consumers are entitled to be informed about their right to modify credit agreements under the Truth in Lending Act ( TILA ).

Misrepresentation of Credit Reporting Impact : Goldman Sachs ' response states, " The Customers credit reporting has not been affected by the payment plan. Per the payment plans terms, the Customer must continue paying at least {$38.00} each month to keep the account current and be reported as current to the credit bureaus. '' However, it is not within Goldman Sachs ' authority to determine the impact on my credit report. It is ultimately up to the credit bureaus to decide how this information is recorded and used in my report. This statement misleads consumers into believing that the payment plan has no potential negative impact, which is deceptive and misleading. 

Potential CFPB Violations : Given Goldman Sachs ' failure to provide accurate and complete information regarding repayment options and their rigid refusal to allow unenrollment despite reasonable requests, the following violations may apply : Unfair, Deceptive, or Abusive Acts or Practices ( UDAAP - 12 U.S.C. 5531 ) Failure to provide transparent repayment options ( 12 CFR 1026.9 ) Failure to maintain and provide required documentation ( 12 CFR 1006.42 ) Violations of consumer rights under the Fair Credit Reporting Act ( FCRA ) Failure to adhere to disclosure requirements under the Truth in Lending Act ( TILA )

Company response to consumer: Closed with explanation