JPMorgan to Issue Apple Card After Goldman Sachs Agreement

JPMorgan Chase will replace Goldman Sachs as the issuer for the Apple Card following a deal to acquire approximately $20 billion in outstanding customer balances.The transition is expected to take two years while Mastercard remains the payment network, with Goldman Sachs reportedly offloading the debt at a discount of over $1 billion.This expansion follows the bank's implementation of Proxy IQ, an internal AI platform designed to manage shareholder voting for $7 trillion in assets.