from earlier this summer, aren't finalized, Capital One and Goldman Sachs have agreed on an outlined deal. If the deal goes through, the portfolio should transfer in about a year, when Capital One's contract expires.
Adding the portfolio could help Goldman cement its move into the consumer lending and credit card space. The General Motors portfolio would mark Goldman's second major consumer credit card, following last summer's Apple Card launch. It could drastically increase its reach into the space: GM cardholders spend $8.5 billion annually—nearly double the $2.5 billion Apple Card portfolio. And GM's large customer base, combined with ongoing during the pandemic, offers the card a big addressable market with room to grow.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
An inside look at the app that's like Duolingo for disaster prep - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Levi's opening NextGen stores with 'Tailor Shops.' Take a look inside. - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Still gotta go inside....
Source: BusinessInsider - 🏆 729. / 51 Read more »
Former Goldman Sachs CEO Lloyd Blankfein says market has 'bubble elements' - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Why Morgan Stanley is buying investment manager Eaton Vance - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »