'Goldman Sachs Got Lax On Credit Cards. The Bill Is Coming Due; The Bank Lent Loosely On Some Credit Cards, Contributing To A Big Loss As It Tries To Sell The General Motors Card Business'

'Goldman Sachs Got Lax On Credit Cards. The Bill Is Coming Due; The Bank Lent Loosely On Some Credit Cards, Contributing To A Big Loss As It Tries To Sell The General Motors Card Business' - WSJ Exclusive

-2.53%

Goldman Sachs Group, Inc.

887.96

-2.53%

https://www.wsj.com/finance/goldman-sachs-got-lax-on-credit-cards-the-bill-is-coming-due-f460f04f?mod=latest_headlines

Behind Goldman Sachs' messy departure from credit-card lending: lax underwriting standards.

The bank is facing mounting losses — including a roughly $400 million pre-tax hit disclosed Monday — as it tries to offload the remaining pieces of its Main Street lending business.

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