02:17 PM EDT, 10/22/2024 (MT Newswires) -- (Update with the CFPB's response to a request for comment in the fourth paragraph.)

The Consumer Financial Protection Bureau will order Goldman Sachs Group ( GS ) to pay tens of millions of dollars in penalties following its investigation into the bank's credit card business, The Wall Street Journal reported Tuesday, citing people familiar with the matter.

The investigation probed Goldman's customer service operations, including its handling of fraud and refunds, with a focus on its credit-card partnership with Apple ( AAPL ) , the people reportedly told The WSJ.

The enforcement action could come as soon as this week, though the exact fine amount was not known, according to the report, which added that the total penalties are anticipated to exceed $50 million.

Goldman Sachs ( GS ) did not immediately respond to a request for comment from MT Newswires. The CFPB declined to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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