Recap: FTC Please Explain, Apple Card $350 Acquisition Cost & More

Goldman Sachs may lose money on the Apple Card in the next recession, Nomura says by CNBC via Running With Miles. That acquisition cost seems insane considering there is no sign up bonus and they aren’t running an affiliate program.
Senator Elizabeth Warren has sent a letter to the Inspector General of the FTC asking for an investigation regarding misleading statements made by the FTC in regards to the Equifax data breach. I do think the statements made by FTC were misleading and they must have known that nobody was going to get the top line figure of $125. This is actually common when it comes to class action settlements, but I still thought it was surprising that the FTC used such definitive language (e.g 10 years of credit monitoring or $125 would have been better phrased as 10 years of credit monitoring or up to $125) and even then the FTC should have been more realistic about the number of people that would choose the cash option. In my opinion the penalty imposed by the FTC was not significant enough and the reason they used that $125 language was because they knew if they gave a more realistic number (most likely under $1) they would have been rightly accused of not going after Equifax hard enough. If you’re going to comment on this specific post, I ask you to discuss the actual topic rather than whatever your political leaning is/your opinion on Warren herself.