Goldman Sachs is in talks to relieve her Apple credit card and high-yield savings account products American Expressa source told CNBC’s Leslie Picker.
Goldman Sachs, Apple and American Express declined to comment.
The talks come amid a broader withdrawal by Goldman from its largely failed consumer banking initiatives, for which CEO David Solomon has drawn widespread criticism. Last week, CNBC reported that the Wall Street giant is preparing for a massive write-down on its 2021 acquisition of fintech lender GreenSky.
The Wall Street Journal first reported the Goldman talks with American Express. The newspaper said there is no certainty about a deal and no agreement has been reached.
It would mean an abrupt turnaround for the two corporate giants. In October, The Journal reported that Goldman and Apple had extended their partnership up to and including 2029. And in April, Goldman Chief Financial Officer Denis Coleman praised a deepening of the partnership.
“This week we announced the launch of a savings account for Apple Card users. We are excited to deepen our partnership with Apple through this additional offering and introduce another source of deposit funding for the company,” Coleman said at the time .
The Journal also reported Friday that Goldman is talking about unloading his General engines card partnership. GM declined to comment to CNBC.
– CNBC’s Steve Kovach, Phil LeBeau and Hugh Son contributed to this report.