Consumer finance watchdog is looking into the Goldman credit card company.

Consumer finance watchdog is looking into the Goldman credit card company.

After attempting to diversify away from trading and deals, the group is now dealing with the difficulties of retail banking.

With the disclosure that the US consumer finance authority is looking into how it maintains accounts at its credit card company

With the disclosure that the US consumer finance authority is looking into how it maintains accounts at its credit card company

at Goldman's credit card business, according to a regulatory filing on Thursday. Goldman said it was cooperating with the investigation. 

Through corporate alliances, Goldman has released two credit cards: its flagship Apple Card and one with General Motors.

Requests for comment from Apple and GM did not immediately result in a response. On private enforcement, supervision, and investigational concerns, according to the CFPB, it does. 

For a Goldman division that only contributed about 2% of the bank's $59 billion in net revenues last year, the CFPB inquiry is a legal problem.

At the end of June, it had credit card balances of roughly $12 billion, up from $5 billion a year earlier.

As evidence of Goldman's considerably more recent push into Main Street banking, established competitors like JPMorgan Chase, which had $165 billion in credit card loans during the most recent quarter, dwarf this.