141

Report: Apple to end partnership with bank that backs Apple Card, savings accounts(arstechnica.com)

posted
by
Avatar
L4sBot@lemmy.worldMB
in
Avatar
technology@lemmy.world
22 comments
hidereport

Report: Apple to end partnership with bank that backs Apple Card, savings accounts::Goldman Sachs has lost billions of dollars on its consumer-focused businesses.

Sort:
HotTopControversialNewOld
You are viewing a single thread.
View all comments View context
Avatar
troybot [he/him]@midwest.social
8 points

Yeah they have a physical storefront in every state so, as a bank, they would need to follow the specific financial laws of each state. Gets super complicated because you end up with different interest rates depending on where the customer lives.

permalink
report
parent
reply
Avatar
GreyBeard@lemmy.one
8 points

Even if they decided to do it themselves, they’d spin up a subsidiary to do the actual banking. No way Apple would want their retail stores having to live up the the rather strict standards of banks.

permalink
report
parent
reply

Technology

!technology@lemmy.world

Create post

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

Community stats

  • 17K

    Monthly active users

  • 12K

    Posts

  • 544K

    Comments

Community moderators