GM in talks with Barclays to replace Goldman Sachs in credit card partnership -source
NEW YORK -General Motors is in talks with Barclays for a credit card partnership deal that will replace existing partner Goldman Sachs, a source familiar with the matter told Reuters.
The Wall Street Journal earlier reported that Barclays is the leading candidate to take over issuance of the credit cards, which have about $2 billion of outstanding balances.) Cards partnership, Goldman Sachs had credit card loan balances of $19 billion at the end of the first quarter, its earnings presentation showed. It did not separately break out GM's card loan balances in the presentationGoldman Sachs had planned to scrap its co-branded credit cards with GM last November.
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