November 11, 2019

“New York’s Department of Financial Services (DFS) has contacted Goldman Sachs, which runs the Apple Card.
Any discrimination, intentional or not, ‘violates New York law’, the DFS said.
[…]
(F)or now Apple would prefer Goldman Sachs take the heat, despite the fact its marketing materials state that its card was ‘created by Apple, not a bank’. But that’s a tricky position to maintain.”

BBC News
November 11, 2019

“Many of (Apple’s) consumers have higher expectations of its behaviour than they would do for other payment card providers.”

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Compliance vs. reputation risk. Who will be held liable? Who will be held culpable?

For a broader view of reputation risk, discover additional articles by Steel City Re here, mentions of Steel City Re here, and comments on newsworthy topics by Steel City Re here.

Risk governance and management, risk financing in insurance captives, and risk transfer through reputation insurances comprise the constituent elements of a comprehensive enterprise reputation risk solution.

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