Report: Goldman Sachs Struggles as It Tries to Exit GM Card

Goldman Sachs this week reported losses related to its Main Street lending business.The banking giant has been pulling away from the credit card lending space, a departure that a Tuesday (Sept. 10) report by The Wall Street Journal (WSJ) characterized as “messy,” driven by “lax underwriting standards.”Goldman is facing an approximately $400 million pre-tax hit from the sale of its General Motors credit card business and a smaller, unrelated unit, the report said.Goldman has been having discussions since the ...