DIRS.INFO top alerts submit data jurnalism about API
login
Top related persons:
Goldman Sachs - 2 David Solomon - 1 David Rubenstein - 1 Goldman - 1 Solomon - 1 Richard Drew - 1 Associated Press Goldman Sachs - 1
Top related locs:
New York
Top related orgs:
GM - 2 GM Card - 1 Apple - 1 Barclays - 1 The - 1 Street - 1 Associated Press - 1 Motors - 1

Search resuls for: "GM Card"


2 mentions found


☆ Goldman Sachs to post $400 million hit to third-quarter results as it unwinds consumer business
  + stars: | 2024-09-09 | by ( Hugh Son | ) www.cnbc.com   time to read: +1 min
David Solomon, CEO of Goldman Sachs, during an interview for an episode of "The David Rubenstein Show: Peer-to-Peer Conversations" in New York on Aug. 6, 2024. Goldman Sachs will post a roughly $400 million pretax hit to third-quarter results as the bank continues to unwind its ill-fated consumer business. CEO David Solomon said Monday at a conference that by unloading Goldman's GM Card business, as well as a separate portfolio of loans, the bank would post a hit to revenues when it reports results next month. It is the latest turbulence related to Solomon's push into consumer retail. Goldman's credit card business, in particular its Apple Card, allowed rapid growth in retail lending, but also led to losses and friction with regulators.
Persons: David Solomon, Goldman Sachs, David Rubenstein, Goldman, Solomon Organizations: GM Card, Apple, GM, Barclays, The, Street Locations: New York
☆ Goldman Moves to Unload GM Credit Card
  + stars: | 2023-11-07 | by ( Annamaria Andriotis | ) www.wsj.com   time to read: 1 min
Goldman Sachs has been looking to lower expenses at its card programs and determined that it is likely to move forward with selling the partnerships if it can’t cut costs sufficiently. Photo: Richard Drew/Associated PressGoldman Sachs plans to begin a process to unload its General Motors credit-card program in another step away from its failed foray into consumer lending. The bank on Tuesday informed a group of employees within its Platform Solutions division, who work on the GM card, that a process to find a new issuer will begin soon, people familiar with the matter said. GM is expected to run the process.
Persons: Goldman Sachs, Richard Drew, Associated Press Goldman Sachs Organizations: Associated Press, Motors, Solutions, GM
0 next >>
Total: 2