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Goldman Sachs' US Credit Card Division Probed By CFPB

Credit Suisse Group (CS) disclosed in a filing with the U.S. Securities and Exchange Commission that the Consumer Financial Protection Bureau or CFPB is investigating some of its credit card practices.

The Swiss lender said in the filling that it is cooperating with the CFPB in connection with the investigation of GS Bank USA's credit card account management practices, including with respect to the application of refunds, crediting of nonconforming payments, billing error resolution, advertisements, and reporting to credit bureaus.

The filing did not disclose other details about the probe and did not name the specific credit cards or accounts that are included in the investigation.

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