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JPMorgan in talks with Apple to take over its credit card program, WSJ reports
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JPMorgan in talks with Apple to take over its credit card program, WSJ reports
Sep 17, 2024 9:50 AM

(Reuters) -JPMorgan Chase ( JPM ) is talking with Apple ( AAPL ) about taking over the tech giant's credit-card program from Goldman Sachs ( GS ), the Wall Street Journal reported on Tuesday.

Discussions started earlier this year and have advanced in recent weeks, but a deal could still be months away, the report said, citing people familiar with the matter.

Key details, including price, are still to be negotiated, according to the report.

Goldman Sachs ( GS ) declined to comment, while JPMorgan ( JPM ) and Apple ( AAPL ) did not immediately respond to Reuters requests for comment.

Goldman and Apple ( AAPL ) reportedly pulled the plug on their credit card partnership last year.

The Wall Street giant is facing a costly exit from the partnership that is seen by other lenders as too risky and unprofitable, sources told Reuters in December last year.

(Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)

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