Is Chase taking over Apple?
Chase is not taking over the technology corporation Apple, but it has entered into a major financial agreement to take over as the exclusive issuer of the Apple Card. Under this partnership arrangement, JPMorgan Chase will transition the credit card program and associated customer accounts over from Goldman Sachs, managing the underlying credit portfolio while Mastercard remains the core payment network. This agreement allows Chase to deeply integrate its financial services within Apple's massive consumer ecosystem while freeing Goldman Sachs from its consumer retail lending commitments.
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