JPMorgan Chase is close to acquiring the Apple Card portfolio from Goldman Sachs, making it the largest credit card issuer in the U.S. Negotiations with Apple have progressed as other contenders have dropped out. The Wall Street Journal first reported on the talks. Both banks and Apple declined to comment.

Stay tuned for updates as this story continues to develop.

Read more at CNBC: Nearing deal to replace Goldman Sachs as issuer