JPMorgan Chase has agreed to take over the Apple credit card portfolio from its current issuer, Goldman Sachs. The deal is expected to shift more than $20bn in card balances onto JPMorgan’s platform, according to the companies. JPMorgan said the transaction is likely to take about 24 months to complete and remains subject to regulatory approvals. The bank plans to record a $2.2bn provision for credit losses tied to the deal when it reports fourth-quarter 2025 earnings next week. Apple Card customers a ...

JPMorgan Chase has reached a deal to take over Apple credit-card program from Goldman Sachs , the Wall Street Journal reported on Wednesday, citing people familiar with the matter. ...

Jamie Dimon, chief executive officer of JPMorgan Chase & Co., during the 2025 IIF annual membership meeting in Washington, DC, US, on Thursday, Oct. 16, 2025.JPMorgan Chase has reached a deal to become the new Apple credit card issuer, taking over from Goldman Sachs, according to a person familiar with the matter.Both banks declined to comment. The deal, nearing finalization after roughly a year of negotiations, means JPMorgan will offload about $20 billion of card balances at a more than $1 billion discoun ...

Core Insights - The Consumer Financial Protection Bureau (CFPB) has ended settlements with Apple and U.S. Bank, halting monitoring that was initially intended to last for years [1][4] Group 1: Settlements Overview - The settlements with Apple and U.S. Bank were reached during the Biden administration, with both companies paying the full civil money penalties included in their settlements [2] - The FTC's settlement with Apple, announced in October 2024, involved allegations of mishandling transaction disputes and misleading customers regarding interest-free transactions [3] - The settlement with U.S. Bank, announced in 2023, included allegations of illegally preventing consumers from accessing unemployment benefits during the pandemic [3] Group 2: Compliance and Monitoring - Both settlements included enhanced compliance and cooperation measures that were to last for five years [4] - The CFPB's decision to scrap these settlements follows a trend of ending similar agreements with other companies, including Toyota and Bank of America, and halting most enforcement actions initiated under the Biden administration [4] Group 3: Regulatory Actions - The CFPB previously canceled a $95 million fine against Navy Federal Credit Union, ordering the credit union to repay $80 million to customers for illegally charged fees, along with a $15 million penalty to the victim relief fund [5] - In May, the CFPB abandoned its effort to supervise Google Payment, which was part of a broader initiative to extend the agency's reach into Silicon Valley [5] - Acting CFPB Director Russell Vought stated that continuing to monitor Google's payments would be an unwarranted use of the Bureau's powers and resources [6]