Goldman Sachs Reportedly Eyeing Exit From Consumer Lending After Apple Card Debacle: 'We Should Have Never Done This F***ing Thing'
Portfolio Pulse from Benzinga Neuro
Goldman Sachs is reportedly considering exiting consumer lending, including the sale of its Apple credit card and other Apple products, as well as the General Motors credit card. The bank is also offloading specialty lender GreenSky at a significant loss. Goldman Sachs has been in talks with American Express, but the potential shift of consumer products to Amex remains uncertain. This strategic reversal comes after the bank's entry into the credit card space in 2019, which has led to billions in losses and regulatory attention.
October 17, 2023 | 3:15 am
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NEGATIVE IMPACT
Goldman Sachs is considering exiting consumer lending, which has led to billions in losses and regulatory attention. This includes the sale of its Apple credit card and other Apple products.
The news of Goldman Sachs potentially exiting consumer lending, including the sale of its Apple credit card and other Apple products, is likely to negatively impact the bank's stock in the short term. This is due to the potential losses and regulatory attention that the bank has attracted.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Goldman Sachs is considering the sale of its Apple credit card and other Apple products as part of its potential exit from consumer lending.
While the potential sale of the Apple credit card and other Apple products by Goldman Sachs could impact Apple, it is unclear what the exact impact would be at this stage. Therefore, the score is neutral.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Goldman Sachs has been in talks with American Express about the potential shift of consumer products, but the outcome remains uncertain.
While Goldman Sachs has been in talks with American Express about the potential shift of consumer products, the outcome remains uncertain. Therefore, the score is neutral.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 50