Goldman Sachs Group Inc. is expected to receive a fine for issues in its credit card business, according to sources familiar with the matter.
This penalty is connected to an investigation by the Consumer Financial Protection Bureau (CFPB) into the bank's practices in this area.
An announcement about the financial penalty is expected to be made soon, according to an anonymous insider.
This is a significant development for Goldman Sachs as it deals with regulatory challenges in its consumer finance operations.