Goldman Sachs' Fintech Unit Faces Scrutiny, Bank Halts Riskier Client Onboarding: Report
Portfolio Pulse from Nabaparna Bhattacharya
Goldman Sachs' partnerships with fintech companies are under scrutiny by U.S. banking regulators due to compliance and risk issues. The bank's transaction banking business unit has stopped onboarding high-risk fintech clients following a warning from the Federal Reserve. This development could potentially hinder Goldman's business expansion plans under CEO David Solomon.
August 31, 2023 | 12:50 pm
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Goldman Sachs' fintech partnerships are under regulatory scrutiny, which could potentially impact the bank's business expansion plans. The bank has also stopped onboarding high-risk fintech clients.
The regulatory scrutiny over Goldman Sachs' fintech partnerships and the halt in onboarding high-risk fintech clients could potentially impact the bank's business expansion plans. This could lead to a negative sentiment among investors, potentially affecting the bank's stock price in the short term.
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