“Apple is in talks with JPMorgan for bank to take over card from Goldman Sachs”
September 19, 2024
“Apple is in discussions with JPMorgan Chase for the bank to take over the tech giant’s flagship credit card program from Goldman Sachs, a person with knowledge of the negotiations said.
The discussions are still early and could falter, and key elements of a deal — such as price and whether JPMorgan would continue certain features of the Apple Card — are yet to be decided, said the person, who declined to be identified.
The bank is seeking to pay less than face value for the roughly $17 billion in loans on the Apple Card because of elevated losses on the cards…”
https://www.cnbc.com/2024/09/17/apple-jpmorgan-creditcard-goldman-sachs.html