this post was submitted on 30 Nov 2023
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129
Report: Apple to end partnership with bank that backs Apple Card, savings accounts (arstechnica.com)
submitted 11 months ago by L4s@lemmy.world to c/technology@lemmy.world
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Report: Apple to end partnership with bank that backs Apple Card, savings accounts::Goldman Sachs has lost billions of dollars on its consumer-focused businesses.

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[–] GreatAlbatross@feddit.uk 4 points 11 months ago

When the card launched, I remember reading that Apple was keen to put their finger on the scales when deciding whether or not somebody was offered credit through Apple. Their logic, I assume, was that the increased profits would offset the increased risk.

This appears not to have been the case.