Source: International Business Times
JPMorgan Chase has reached a definitive agreement with Apple to become the new issuer of the Apple Card, replacing Goldman Sachs. Once finalized, the deal is expected to move more than $20 billion in Apple Card balances onto JPMorgan's platform, adding meaningful scale to Chase's already expansive consumer finance business. Financial Impact and Risk Management Apple surprises Apple Card users with a second interest rate hike in a month, reaching an impressive 4.
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