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Some senior executives at Goldman want out of what remains of consumer lending—namely, the Apple credit card and other Apple products, and the General Motors credit card. No decision has been made, although Goldman has held conversations recently with American Express.
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Privately, some Goldman executives blame Apple. Most card programs send out cardholders’ bills on a rolling basis throughout the month. Apple cardholders get their bill at the beginning of each month. That means Goldman customer-service employees get flooded early every month, making it hard for them to keep up.
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