• Goldman Sachs stresses that it decides who gets an Apple Card - after Apple's snub that it was 'created by Apple, not a bank'

    7 days ago - By Business Insider

    The slogan for Apple Card is "created by Apple, not a bank" - but Goldman Sachs decides who gets one, shoulders the risk of lending billions, and collects unpaid debts.
    "Whoever lays claim to the creation of the card, there's only one institution that's making underwriting decisions, and that's Goldman Sachs," the bank's finance chief said on Wednesday.
    "The ultimate decision sits with us," he added. "We calibrate, manage our risk and collections in the context of that."
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    The Apple Card's slogan is "created by Apple, not a bank" - but...
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