Goldman Sachs is in negotiations to release him Apple credit cards 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 retreat by Goldman from his largely failed consumer banking initiatives, for which CEO David Solomon took a lot of heat. Last week, CNBC reported that the Wall Street giant is preparing for a huge write-down of its acquisition of fintech lender GreenSky in 2021.
The Wall Street Journal first reported Goldman’s dealings with American Express. The newspaper said there was no guarantee of a deal, nor was a deal done.
It would be a sudden turnaround for these two corporate giants. In October, the Journal reported that Goldman and Apple had renewed their partnership until 2029. And in April, Goldman CFO Denis Coleman offered to deepen 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 business,” Coleman said at the time.
The Journal also reported Friday that Goldman is talking about unloading his General Motors card partnership. GM declined to comment to CNBC.
– CNBC’s Steve Kovach, Phil LeBeau and Hugh Son contributed to this report.