reported earlier in the day that the central bank has concerns that Goldman did not have proper safeguards in place at Marcus as the consumer lender's business grew.
CONCERNS OVER A ‘WHITE COLLAR RECESSION’ GROW AS GOLDMAN SACHS, MORGAN STANLEY, AMAZON AND OTHERS CUT JOBS Sources familiar told FOX Business that they are unsure of the seriousness of the Fed's probe but noted that the central bank regularly examines consumer bank compliance issues and that Fed officials are stationed inside every major bank for the purpose of monitoring such issues.
The Marriner S. Eccles Federal Reserve Board building is seen in Washington, DC. The central bank is investigating Goldman Sachs over the handling of its consumer business.
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WSJ News Exclusive | Federal Reserve Probes Goldman Consumer BusinessBreaking: The Federal Reserve is investigating Goldman Sachs over its consumer business, people familiar with the matter say wasnt it one of them 'too big to fail' ones? 'Much of Marcus is being folded into Goldman’s new asset- and wealth-management unit. Some pieces, including its credit-card partnerships with Apple and General Motors Co., as well as specialty lender GreenSky, are moving into a new unit called Platform Solutions' God $GS is having a bad week 🛟 RWMann janewells
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Goldman Sachs’ consumer business Marcus facing Fed probe: reportThe probe grew out of a standard Fed review of the business in 2021 and intensified into an investigation last year.
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U.S. Fed probes Goldman Sachs consumer business - WSJThe U.S. Federal Reserve is probing whether Goldman Sachs Group Inc's consumer business had appropriate safeguards in place as the bank ramped up lending, the Wall Street Journal reported on Friday, citing people familiar with the matter. One branch of the fascist private-public-partnership government probes another branch of the fascist private-public-partnership government
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