The Consumer Financial Protection Bureau (CFPB) has ended its enforcement actions against Apple, releasing the tech giant from oversight agreements several years ahead of schedule, reports The MacObserver.
The termination, which appeared on the agency’s website, means Apple will no longer be subject to long-term compliance monitoring intended to ensure it abides by the terms of a settlement, the article adds.
Last October the CFPB ordered Apple and Goldman Sachs Group Inc. to pay a combined US$89 million in fines regarding customer service breakdowns and misrepresentations that affected hundreds of thousands of Apple Card users. Apple and Goldman also misled customers about interest-free payment plans for Apple devices, the CFPB alleged.
The CFPB ordered Apple to pay a US$25 million civil money penalty and subjected it to five years of compliance monitoring, while Goldman was ordered to pay nearly $20 million in customer redress and a $45 million fine. But the early termination relieves Apple from compliance monitoring after less than a year.
