Original Source Material
The largest U.S. bank will assume a $20 billion portfolio of Apple customers as Goldman Sachs extricates itself from consumer lending.
JPMorgan Chase to take over as Apple Card’s issuer
Summary
- JPMorgan Chase will take over a $20 billion portfolio of Apple customers from Goldman Sachs.
- This transition involves consumer lending operations.
Why It Matters for Texas Credit Unions
This news could impact credit unions in Texas by setting new standards or practices for consumer lending and card issuance, which are relevant to all CUs operating within the state.