JPMorgan Chase is in talks to take over the Apple Card industry from Goldman Sachs, The Wall Boulevard Magazine experiences.
Goldman has issued credit score for the Apple Card since its release in 2019, however the Wall Boulevard and Silicon Valley giants had been looking to untie their partnership since final yr. In 2023, Goldman made up our minds to desert its push into shopper banking, together with the $17 billion Apple Card program, as it used to be noticed as a distraction from its core industry.
Goldman and Apple reportedly approached a couple of lenders about changing into the bank card’s new backer, together with American Specific. A few of the ones offers had been held up because of the Apple Card’s top loss fee, which might motive Goldman to promote the industry to JPMorgan for not up to its face price.
