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Companies

Goldman Sachs, Bank Behind the Apple Card, Says Regulators are Investigating its Credit Card Practices

August 4 2022

• in
• Apple
• Goldman Sachs

“Goldman Sachs said that its credit-card business is being investigated by the Consumer Financial Protection Bureau over a range of billing and payments practices. The bank disclosed the probe in a quarterly filing on Thursday, saying that regulators were examining its “account management practices, including with respect to the application of refunds, crediting of nonconforming […]

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Companies

Goldman Sachs Opens Investing App to Anyone With as Little as $1,000

February 16 2021

• in
• Goldman Sachs

“Goldman Sachs Group Inc. took another step toward going mainstream, launching an investing app for customers that want to put at least $1,000 to work.    Investors using the service, which went live Tuesday, can put money into automated portfolios rather than individual stocks and bonds, according to the company. The move expands the Marcus […]

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Companies

Goldman Sachs, the White-shoe Investment Bank, Launches Installment Loan Business With JetBlue

April 10 2020

• in
• Banks
• Goldman Sachs
• Lenders

“Goldman Sachs is taking another step into the world of retail banking with an installment loan product that’s launching with JetBlue Airways . The bank quietly released a website for something called MarcusPay this week, allowing users to break up big-ticket purchases into monthly payments. Loans ranging from $750 to $10,000 are repaid over 12 or 18 […]

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Companies

Goldman Hands Out $10 Billion in Credit Lines for Apple Card

November 1 2019

• in
• Apple
• Goldman Sachs

“Goldman Sachs Group Inc. leaders have been coy about backing up their recent assertion that the Apple Inc. card is the industry’s most successful credit card launch ever. Regulatory filings this week offer a first glimpse into the numbers that had the bank gushing.”

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Companies

Apple and Goldman Sachs Credit Card Targeting August Launch Date

July 26 2019

• in
• Apple
• Cards
• Goldman Sachs

“Apple and Goldman Sachs ’s hotly anticipated new credit card is now just weeks away from launch, according to a person familiar with the companies. The release will be the culmination of an intense, high-stakes development process for the Silicon Valley giant and the Wall Street stalwart.  The Apple Card is targeted to launch as early […]

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Companies

Goldman Sachs Explores Creating a Digital Coin Like JPMorgan’s

June 28 2019

• in
• Cryptocurrencies
• Goldman Sachs

“Goldman Sachs Group Inc.’s chief executive officer told France’s Les Echos newspaper that he’s “absolutely’’ looking at digital currencies and said Goldman is conducting “extensive research’’ on tokenization, the process for transforming currencies or assets into tradeable digital contracts that live on a blockchain.    “Assume that all major financial institutions around the world are […]

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Companies

Apple Launches Credit Card, Subscription Services for News, Video Games

March 25 2019

• in
• Apple
• Goldman Sachs

“The unveiling of the Apple Card marks a major expansion of the company’s foray into financial services, begun with Apple Pay. Customers will be able to sign up for the Apple Card on their iPhones and begin using it for purchases within days, the company said. It will offers 2% cash back on purchases and […]

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Companies

Apple, Goldman Tie-Up Is Latest Way for Silicon Valley to Reshape Wall Street

February 25 2019

• in
• Apple
• Goldman Sachs

“Citigroup Inc., JPMorgan Chase & Co. and others pitched their services, the people said. Apple instead went with a name little known on Main Street: Goldman Sachs GS -0.18% Group Inc. The elite investment bank will soon roll out an Apple credit card that will sync with an iPhone app, The Wall Street Journal reported last week. The card is part of a broader […]

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Companies

Goldman Sachs is scaling back expectations for the buzzy 2-year-old service its new CEO is relying on, and it highlights a major concern with the economy

October 9 2018

• in
• Banks
• Goldman Sachs

“Goldman Sachs is cutting a key target for its consumer lending platform Marcus, reflecting the firm’s growing concerns about the consumer debt market, according to a new report. Goldman has scaled back loan originations for 2019 for Marcus, according to a Bloomberg report on Monday which cited anonymous sources.”