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JPMorgan Chase to take over Apple Card from Goldman Sachs amid financial struggles.
JPMorgan Chase has agreed to take over Apple’s credit card program from Goldman Sachs, according to sources, ending Goldman’s consumer banking ambitions.
The deal, which follows years of challenges including high delinquency rates and a $1 billion loss, will see JPMorgan issue the Apple Card to new and existing customers, while also launching a new Apple-branded savings account.
The transition will be gradual, with the card portfolio valued at $20 billion.
Neither JPMorgan nor Apple has confirmed the report.
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JPMorgan Chase se hará cargo de Apple Card de Goldman Sachs en medio de las dificultades financieras.