The $20B Handover: Apple Card Dumps Goldman Sachs for JPMorgan Chase
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Apple announced a strategic alliance making JPMorgan Chase the new issuer of Apple Card, replacing Goldman Sachs, while retaining Mastercard as the payment network; the two-year transition is designed to leave cardholder benefits unchanged, and reports indicate Goldman transferred approximately $20 billion in balances at a discount exceeding $1 billion as it exits consumer finance.
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