JPMorgan Chase to take over Apple card from original issuer Goldman Sachs

Summary

The segment reports that JPMorgan Chase has reached a deal to take over the Apple Card program from Goldman Sachs, including more than $20 billion in card loans. The card will continue to run on Mastercard's network. Goldman has been pivoting away from consumer finance, and JPMorgan says the deal will take about two years to close. The transcript also previews Diana Olick with new data.

• JPMorgan Chase will take over the Apple Card program from Goldman Sachs.
• The deal includes more than $20 billion in card loans.
• Apple Card will continue to run on Mastercard's network.
• Goldman Sachs has been pivoting away from consumer finance.
• The deal follows a year of negotiations.
• JPMorgan says closing will take about two years.
• Diana Olick is teased for upcoming data.