Goldman Sachs in talks with Barclays to potentially transfer its $2bn General Motors credit-card business.

Goldman Sachs is reportedly in talks with Barclays to transfer its General Motors credit-card business, with the British lender being the lead candidate to take over the $2bn portfolio. A deal could be reached by summer, but another suitor may still emerge. This move comes as Goldman tries to unwind its push into consumer banking, as its Platform Solutions unit lost $6bn on a pretax basis from 2020 to Q1 2022.

April 30, 2024
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