Goldman is offloading the lending platform less than two years after acquiring it as part of a broader retreat from the mass market. The Wall Street giant’s foray into consumer lending proved costlier than expected, and the company said it pushed too quickly into the effort, contributing to missteps.
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Goldman strikes deal to sell GreenSky unit to Sixth Street Group
The earnings hit from the GreenSky sale, which translates to a bit more than $60 million, is tied to a writedown of intangibles, markdowns on the loan portfolio and a tax impact, partially offset by a release of loan reserves.
