Goldman Sachs bank is seeking another company to take over its GM credit cards as it attempts to exit consumer lending entirely, after expenses rose too high to make the attempted expansion of its business viable.
The bank wants to transfer its GM credit card and Apple credit card services to a different lender, the Wall Street Journal reports, after selling off the personal loan business it added to its holdings in 2022 with the purchase of GreenSky.
So far, the most likely buyer for both the Apple credit card and the GM credit card appears to be American Express. However, public details are lacking at this point other than the bare fact Goldman Sachs has communicated with Amex about the cards, so the ultimate fate of both card services remains unknown.
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