Goldman’s consumer retreat isn’t over

News Snapshot:

Goldman Sachs (GS) isn’t finished pulling back from consumer lending as it looks to cut costs and refocus on its core strengths. The latest step involves a credit card it launched less than two years ago with General Motors (GM). GM has started the process of seeking a new issuer for the card, a person familiar with the situation confirmed with Yahoo Finance. GM and Goldman launched a new credit card together in early 2022. (Muhammed Selim Korkutata/Anadolu Agency via Getty Images) (Anadolu Agency via Getty Images) The Wall Street Journal was the first to report Tuesday that the bank...