Goldman Sachs struggles in consumer banking, leading to decision to sell Apple Card portfolio to JPMorgan Chase. Unexpected charge-off rates due to looser lending standards were a challenge. JPMorgan Chase sees opportunity to cross-sell to 12 million Apple Card customers. Financial impact on JPMorgan Chase expected to be minimal due to small portion of total loans. This deal doesn’t significantly impact investment implications for JPMorgan Chase stock.

Read more at Yahoo Finance: JPMorgan Chase Is About to Take Over the Apple Card Business From Goldman Sachs. Here’s What Investors Need to Know.