JPMorgan Chase has agreed to take over the loans underpinning Apple’s credit card portfolio from rival Goldman Sachs, extricating it from one of the last businesses related to an ill-fated foray into retail banking.
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JPMorgan to take over Apple’s $20b credit card portfolio from Goldman Sachs
“This transaction substantially completes the narrowing of our focus in our consumer business,” said Goldman chief executive David Solomon in a statement.
