Goldman’s Potential Attempt to Abandon Apple Card Suggests

Goldman Sachs, four years after partnering with Apple on the launch of the Apple Card, is reportedly seeking to end the partnership.

The Wall Street Journal reports that Goldman is exploring options to exit its deal with Apple, which recently expanded to include savings accounts for Apple Card holders.

Goldman is said to be in discussions with American Express to transfer the partnership, but nothing has been finalized and it is unclear if Apple would support the transition.

Earlier this year, Goldman CEO David Solomon stated that he was considering strategic alternatives for the firm’s consumer business. In addition to the Apple partnership, Goldman’s consumer-facing business includes a credit card partnership with General Motors and the acquisition of lending company GreenSky for $2.2 billion in 2021.

Apple and Goldman have not yet responded to requests for comment on the WSJ’s story. CNBC also published a similar report based on its own unnamed sources.

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