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Goldman Sachs talks about discharging Apple bank cards and high yield savings accounts American Expressa source told CNBC’s Leslie Picker.
Goldman Sachs, Apple and American Express declined to comment.
The talks come as a part of Goldman’s wider rollback from its largely failed consumer banking initiatives, for which it has heavily criticized CEO David Solomon. Last week, CNBC reported that the Wall Street giant is gearing up for a large write-down for its 2021 acquisition of fintech lender GreenSky.
Wall Street Journal was the primary to report on Goldman’s talks with American Express. The newspaper said there was no certainty of a deal, nor was it close.
This may mean a sudden reversal of the situation of the 2 corporate giants. In October, the Journal reported that Goldman and Apple had renewed their partnership by 2029. And in April, Goldman’s CFO Denis Coleman touted deepening the partnership.
“This week we announced the launch of a savings account for Apple Card users. We’re excited to deepen our partnership with Apple with this extra offering and introduce one other source of deposit funding for the corporate,” Coleman said on the time.
The Day by day also reported on Friday that Goldman is talking about discharging General Motors card partnership. GM declined to comment to CNBC.
– Steve Kovach, Phil LeBeau and Hugh Son of CNBC contributed to this report.