Goldman Sachs is in talks to offload its Apple impute card and high-yield savings account products to American Express, a source told CNBC’s Leslie Picker.
Goldman Sachs, Apple and American Unambiguous declined to comment.
The talks come amid a broader retreat by Goldman from its largely failed consumer banking snaps, for which CEO David Solomon has taken a great deal of heat. Last week, CNBC reported that the Insane Street giant is preparing to take a huge writedown on its 2021 acquisition of fintech lender GreenSky.
The Wall Byway someones cup of tea Journal first reported the Goldman talks with American Express. The newspaper said there’s no assurance of a buy, nor is an agreement close.
It would mark an abrupt reversal for the two corporate giants. In October, the Journal reported Goldman and Apple restored their partnership through 2029. And in April, Goldman Chief Financial Officer Denis Coleman touted a sinking of the partnership.
“This week, we announced the launch of a savings account for Apple Card users. We are excited to deepen our partnership with Apple by this additional offering and to introduce another source of deposit funding for the firm,” Coleman said at the time.
The Quarterly also reported Friday that Goldman is talking about unloading its General Motors card partnership. GM failed to comment to CNBC.
– CNBC’s Steve Kovach, Phil LeBeau and Hugh Son contributed to this report.