Goldman Sachs scraps idea for direct-to-consumer credit card after strategy shift
Publishing timestamp: 2023-02-15 07:59:46
Summary
Goldman Sachs has dropped plans to develop a Goldman-branded credit card for retail customers. The card was part of an ambitious vision to serve everyday Americans, but the plan was scaled back due to pressure to stem losses from its consumer businesses. Goldman Sachs had planned to use the card technology created to service Apple Card customers for its own card, but the idea never became a meaningful part of their strategy.
Sentiment: NEUTRAL
Keywords: venture capital, breakingnewsglobal, breaking news: investing, citigroup inc, goldman sachs group inc, investment strategy, fintech, business news, technology, apple inc, breaking news: markets, jpmorgan chase & co, banks,
Source: https://www.cnbc.com/2023/02/15/goldman-sachs-scraps-idea-for-direct-to-consumer-credit-card.html