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Goldman Sachs Lands GM's $2.5 Billion Business

Video Credit: Wochit News
Published on October 2, 2020 - Duration: 00:34s

Goldman Sachs Lands GM's $2.5 Billion Business

Ramin Talaie/Corbis/Getty Images Goldman Sachs won the bid for General Motors' credit-card business for roughly $2.5 billion, The Wall Street Journal reported Thursday.

The Wall Street giant beat out Barclays, acquiring more than one million GM cardholders and the $8.5 billion they spend annually, according to The Wall Street Journal.

This is Goldman Sachs' second co-branded card, following the Apple Card, as it looks to expand its consumer-lending business.

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Barclays

British multinational banking and financial services company

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The Wall Street Journal

American business-focused daily broadsheet newspaper based in New York City

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