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Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

finance.yahoo.com

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Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#101

Post by paul7986 »

threeseed wrote: post #92
paul7986 wrote: post #87

Earlier quoted context omitted.

That's cool... personally Im most interested in cool tech/innovation over privacy if that's what you mean by keep the processing on the device.

Many of us however would strongly prefer that our photos, documents, emails, contacts etc not be stored unencrypted on a server. And the capabilities of this model would still be limited as well given that Apple is not going to be able to host a large parameter one for each user.

yeah everyone is different ... im either an innovator (of go nowhere technology lol) or an early adopter. Like Im enjoying my Ray Ban Metas since last October (use them daily). Yet for many they are a privacy nightmare.

Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#102

Post by gruez »

rootusrootus wrote: post #82
optimalsolver wrote: post #8

Earlier quoted context omitted.

Cost of doing business.

A very tiny one at that. $25M to Apple is a little over two hours of revenue, if my math is roughly correct.

Comparisons like this are absurd. Why should fines associated with a small segment of apple's business be compared to their global revenue? Is the implication that all offenses should be fined based on global revenue, such that if they broke some law in Liechtenstein that the government there should be able to demand 5% (or whatever) of apple's worldwide revenue?

Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#103

Post by gruez »

gtvwill wrote: post #33
paul7986 wrote: post #22

Earlier quoted context omitted.

THanks, just always have had good user experience in every way with Apple, so getting email notifications one after the other where they said you need to upgrade if you want us to continue backing your stuff up was mildly odd. Yet, in their first communication they didnt mention anything about not getting email yet they did in the third or so email which felt very anti-user to me. As for Apple Intelligence Ive been u…

Apples constant push for subscription icloud data storage is predatory at best. The amount of users/clients I come across with devices way out of date re software/security patches because their iphones not got enough space on it to download its own update and it doesn't provide a easy way to transfer large chunks of data off it like photos/videos is ridiculous. Something like 50% of users easily. Sample size probably…

>and it doesn't provide a easy way to transfer large chunks of data off it like photos/videos is ridiculous

Using the web interface of another cloud provider to upload files there, and downloading it on your other device? Most cloud providers give you around 10GB for free, which should be more than enough room to install ios updates.

Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#104

Post by makeitdouble »

steveBK123 wrote: post #17
Ensorceled wrote: post #14

Earlier quoted context omitted.

> I'm struggling a little bit with the "misleading consumers into getting interest-free monthly payments" part. I never found the checkout flow particularly unclear or obtuse I really wish everybody who makes claims like these would go to the local library and do volunteer tech support for the elderly, poorly educated and cognitively challenged for a day. The bar for these things is not "would the average HN reader f…

Agreed though "it needs to be below 6th grade reading level" would essentially invalidate every contract/license/agreement ever entered into..

That's usually not an issue if your contract and marketing claims are aligned.

Even if the customers didn't you read the contract, they still got the gist of it through the marketing copy and probably won't hit a point where they're really mad about you. Actual trials will also be easier to deal with as you're in good faith.

For all the press we get on "frivolous" lawsuits, no average Joe are winning actual stupid suits.

Here it's an issue because what the credit card is fundamentally made for (make you pay fees on additional services) and the marketing hook (no additional fee) are at odds and is only true for very specific conditions someone can easily fall out of.

Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#105

Post by smcin »

steveBK123 wrote: post #17
Ensorceled wrote: post #14

Earlier quoted context omitted.

> I'm struggling a little bit with the "misleading consumers into getting interest-free monthly payments" part. I never found the checkout flow particularly unclear or obtuse I really wish everybody who makes claims like these would go to the local library and do volunteer tech support for the elderly, poorly educated and cognitively challenged for a day. The bar for these things is not "would the average HN reader f…

Agreed though "it needs to be below 6th grade reading level" would essentially invalidate every contract/license/agreement ever entered into..

There have been several public-interest reports and scorecardings of the readability/unreadability of the language in various consumer/financial contracts (the grade-level required to understand it x the number of minutes/hours to read it).

Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#106

Post by metadat »

impish9208 wrote: post #12

Dupe: https://news.ycombinator.com/item?id=41926162

Edit: no discussion == no dupe, it isn't useful to link threads with no/few comments.

Them's the breaks. I don't love it either, but submission spam doesn't move the needle for our community regardless of timestamps, especially when one randomly didn't gain traction first. If you have a better solution, feel free to email hn@ycombinator.com, maybe the staff will take it up!

Don't sweat the small stuff. This story made it to the front page, isn't that cool? Someone was on to something.

Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#107

Post by justinclift »

xyst wrote: post #48
mensetmanusman wrote: post #2

“ The regulator also said Apple and Goldman misled many consumers into believing they would automatically get interest-free monthly payments when buying Apple devices. Instead, those same customers were charged interest.” Interesting! Will they notify those charged interest?

Probably payment on GS backend was processed late even if customer initiated payment on the due date. So customer was charged interest. I was an early adopter of the AC during my Apple glazing days. Everybody has the same due date (end of month) and GS systems just could not handle the volume. I remember an auto payment taking a week to withdraw from my bank account and applied to account. I wasn’t charged interest a…

> Apple glazing

What is "Apple glazing"?

Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#108

Post by justinclift »

fastball wrote: post #76
xyst wrote: post #48

Earlier quoted context omitted.

Probably payment on GS backend was processed late even if customer initiated payment on the due date. So customer was charged interest. I was an early adopter of the AC during my Apple glazing days. Everybody has the same due date (end of month) and GS systems just could not handle the volume. I remember an auto payment taking a week to withdraw from my bank account and applied to account. I wasn’t charged interest a…

It actually sounds like some customers thought any Apple purchase would be eligible if they paid with their Apple Card, but that is not how it works – you actually need to choose the interest-free monthly installment option when buying the device. A case of potentially misleading advertising, but also customers being dumb. I personally found the whole process quite clear with regards to how the interest-free installm…

> I personally found the whole process quite clear ...

Maybe there were earlier versions of the advertising/process that weren't as clear, and it was made clearer over time?

Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#109

Post by gnabgib »

metadat wrote: post #106
impish9208 wrote: post #12

Dupe: https://news.ycombinator.com/item?id=41926162

Edit: no discussion == no dupe, it isn't useful to link threads with no/few comments. Them's the breaks. I don't love it either, but submission spam doesn't move the needle for our community regardless of timestamps, especially when one randomly didn't gain traction first. If you have a better solution, feel free to email hn@ycombinator.com, maybe the staff will take it up! Don't sweat the small stuff. This story mad…

Best check again, that post was 1h 29m 57s prior.

Re: Goldman and Apple 'illegally sidestepped' obligations to credit-card customers

#110

Post by steveBK123 »

smcin wrote: post #105
steveBK123 wrote: post #17

Earlier quoted context omitted.

Agreed though "it needs to be below 6th grade reading level" would essentially invalidate every contract/license/agreement ever entered into..

There have been several public-interest reports and scorecardings of the readability/unreadability of the language in various consumer/financial contracts (the grade-level required to understand it x the number of minutes/hours to read it).

Yes and ARMs got a simple one-pager treatment post-GFC thanks to the CFPB.

I'm just saying that "6th grade reading level" is extremely basic level of literacy that a lot of contracts probably couldn't be easily communicated to that level.

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