The penalties and customer refunds stem from an investigation by the Consumer Financial Protection Bureau into Apple Card, which Goldman issues.Federal regulators ordered Goldman Sachs and Apple on Wednesday to pay combined penalties of more than $89 million over their handling of their credit-card business, affecting hundreds of thousands of Apple Card users.The investment bank was ordered by the Consumer Financial Protection Bureau to pay fines of $45 million, and Apple was fined $25 million. In addition, Goldman will be required to pay at least $19.8 million in customer refunds. Regulators are barring Goldman from offering any new credit card other than the Apple Card unless it provides a “credible plan” showing the product will comply with the law.The C.F.P.B.’s yearslong inquiry looked into, among other issues, Goldman’s customer-service operations, specifically how the bank handled fraud and refunds in its credit-card partnership with Apple. The investigation found that the companies’ conduct left customers with incorrect credit reports and unresolved charge disputes.Apple and Goldman failed to properly handle customer disputes, Rohit Chopra, the C.F.P.B.’s director, said on a call with reporters on Wednesday. Even when Goldman was alerted to disputes, Mr. Chopra added, the bank often failed to follow federal requirements to investigate and resolve them in a timely manner.The agency also said Goldman and Apple misled consumers about interest-free payment options for Apple devices, charging substantial interest despite leading customers to believe they would get interest-free financing when purchasing Apple products with their Apple Card.“The execution was a mess,” Mr. Chopra said, referring to the launch of the credit card partnership in 2019.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe.