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| Name | How Goldman Sachs Fumbled Credit Cards, Personal Loans and More | WSJ |
| Video Uploader | Video From The Wall Street Journal |
| Upload Date | This Video Uploaded At 19-08-2023 10:00:25 |
| Video Discription | When Goldman Sachs entered the credit card space in 2019 with a partnership with Apple, many consumer banks were concerned that a new competitor had emerged. But just four years later, the firm is pulling back. The banking giant’s move from Wall Street to Main Street came at a time when Goldman wanted to diversify its funding sources. It introduced a high-yield savings account with Marcus and rolled out personal loans. But what was the turning point that led them to start to retreat from this space? WSJ explains why Goldman Sachs entered consumer finance and what the firm pulling back means for the company as a whole. 0:00 Goldman Sachs isn’t used to failing 0:20 Entering the consumer space 2:22 Acceleration of consumer finance efforts 3:32 Turning point 4:55 Goldman’s retreat News Explainers Some days the high-speed news cycle can bring more questions than answers. WSJ’s news explainers break down the day's biggest stories into bite-size pieces to help you make sense of the news. #GoldmanSachs #Investing #WSJ |
| Category | News & Politics |
| Tags | goldman sachs | pre tax loss | consumer lending | strategic and financial fail | consumer lending basics | credit card | goldman sachs stock | wall street | wsj | financial industry | fintech | financial technology | consumer lenders | high yield savings accounts | consumer banks | personal loans | goldman personal loans | investing | banking industry | goldman sachs credit cards | gm credit card | risk managment | apple card | goldman sachs apple savings account | david solomon | jetblue card | bnss |
