Consumer complaint received 2025-03-04 00:00:00
Product: Credit card — General-purpose credit card or charge card
Issue: Problem with a purchase shown on your statement — Card was charged for something you did not purchase with the card
Company: GOLDMAN SACHS BANK USA
State: NV

Complaint narrative:
Dear CFPB, I am filing this complaint against Goldman Sachs regarding their repeated refusal to properly investigate unauthorized charges on my Apple Credit Card. Despite providing irrefutable evidence that these transactions were fraudulent, Goldman Sachs has deliberately ignored my disputes, violating multiple federal regulations designed to protect consumers from fraud. Their actions demonstrate a blatant disregard for their legal obligations, and I am requesting immediate CFPB intervention, including enforcement actions and monetary penalties against Goldman Sachs for their willful noncompliance. 

Summary of Fraudulent Transactions and Goldman Sachs Negligence The fraudulent transactions were shipped to the following unauthorized address : XXXX XXXX XXXX XXXX XXXX XXXX, XXXX, XXXX  This address is in no way linked to me. My actual physical and billing address is : XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX I have provided Goldman Sachs with merchant records proving that the orders were shipped to an address completely unrelated to me. Additionally, I submitted a copy of my XXXX  drivers license, further demonstrating that the shipping address does not match my legal residence. Despite this overwhelming evidence, Goldman Sachs continues to claim that the " billing and shipping addresses tie back to the customer '' a blatant falsehood that calls into question their compliance with consumer protection laws. 

Goldman Sachs Clear Violations of Federal Law 1. Violation of the Fair Credit Billing Act ( FCBA ) 15 U.S.C. 1666 Under the FCBA, credit card issuers must investigate and resolve disputes regarding unauthorized transactions within two billing cycles or 90 days. Goldman Sachs has failed to meet this legal requirement by dismissing my claim without a proper investigation, despite clear documentary evidence proving fraud. Their refusal to correct these fraudulent charges directly violates the FCBA. 

2. Violation of Regulation Z ( Truth in Lending Act 12 C.F.R. 1026.13 ) Regulation Z mandates that banks conduct a good faith investigation when consumers dispute unauthorized transactions. Instead of fulfilling this obligation, Goldman Sachs has engaged in bad faith practices, providing misleading justifications for denying my claim and failing to uphold its responsibilities under federal law. 

3. Violation of the Electronic Fund Transfer Act ( EFTA ) 15 U.S.C. 1693f Under EFTA, financial institutions must investigate and resolve disputes regarding unauthorized transactions in a timely manner. Goldman Sachs refusal to address this frauddespite being provided with indisputable proofdemonstrates gross negligence and noncompliance with federal law. 

4. Potential Violation of CFPBs UDAAP Authority ( Unfair, Deceptive, or Abusive Acts or Practices 12 U.S.C. 5531 & 5536 ) Goldman Sachs failure to investigate clear fraud and its deliberate misrepresentation of the facts may constitute an unfair, deceptive, or abusive act ( UDAAP ), which is prohibited under the Consumer Financial Protection Act. The CFPB has the authority to investigate and impose severe monetary penalties for such violations. 

Pattern of Systemic Fraud Neglect CFPB Must Take Action Goldman Sachs repeated refusal to investigate clear evidence of fraud is not an isolated incident ; this appears to be a systemic failure that exposes consumers to financial harm. By ignoring valid fraud disputes, Goldman Sachs is enabling fraudsters while leaving consumers unprotectedan egregious violation of consumer trust and regulatory obligations. 

Requested CFPB Action and Enforcement I urge the CFPB to take the following actions : - Compel Goldman Sachs to immediately reverse these fraudulent charges and properly investigate the unauthorized transactions. 

- Impose monetary penalties on Goldman Sachs for violations of the FCBA, Regulation Z, EFTA, and UDAAP provisions. 

- Launch a broader investigation into Goldman Sachs handling of fraud disputes, as this may be indicative of a larger pattern of noncompliance affecting other consumers. 

- Consider legal action to ensure Goldman Sachs is held accountable for its refusal to comply with federal consumer protection laws. 

Goldman Sachs is deliberately ignoring fraud, violating multiple federal regulations, and misleading consumers. Their actions warrant severe penalties and regulatory oversight to prevent further misconduct. I trust the CFPB will take swift action to hold Goldman Sachs accountable. 

I will continue to escalate this issue with the CFPB and other relevant regulatory agencies until this matter is resolved fairly and in full compliance with consumer protection laws. Goldman Sachs ' repeated refusal to properly investigate this fraud and their blatant disregard for clear evidence can not be ignored. I urge the CFPB to take immediate action to hold Goldman Sachs accountable. 

Sincerely, XXXX XXXX XXXX

Company response to consumer: Closed with explanation