Reported 28 days ago
Goldman Sachs CEO David Solomon has stated that the bank's departure from its credit card partnership with General Motors is not problematic, addressing concerns about the transition during a CNBC interview. Solomon disclosed that Goldman anticipates a $400 million pre-tax charge related to the exit and is in talks to transfer its joint credit card business with GM to Barclays. He emphasized that such transitions can be complex, especially mid-contract, but believes the situation is manageable.
Source: YAHOO