Goldman Sachs considers backing away from Apple Card, other consumer businesses

The WSJ reports

Speaking at the bank’s second-ever investor day, [CEO David] Solomon said Goldman was “considering strategic alternatives” for its consumer platforms business. That unit includes the specialty lender GreenSky and credit-card partnerships with Apple Inc. and General Motors Co. Mr. Solomon didn’t offer details.

WSJ (behind a paywall)

Probably not surprising. Goldman did a good job resolving some Covid-cancellation-related disputes for me, but still, Apple Card is just another credit card, albeit with a nice app.


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Apparently the Apple Card deal didn’t work out very good for Goldman. They have lost over a billion dollars.