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https://www.wsj.com/articles/goldman-sachs-steps-back-from-bidding-for-new-credit-card-programs-26908c70

Goldman Sachs Steps Back From Bidding for New Credit Card Programs

Bank recently pulled out of discussions to launch a T-Mobile US credit card and stopped courting Hawaiian Airlines

Americans have missed out on $603 billion of free money over the last eight years by sticking with big banks like Wells Fargo and Bank of America. WSJ’s Dion Rabouin explains why people aren’t moving their money in smarter ways and why they should be. Photo: Brian Snyder/Reuters
By AnnaMaria Andriotis

Goldman Sachs Group Inc. is pausing its efforts to acquire new credit-card programs, according to people familiar with the matter.

The Wall Street firm recently ended advanced discussions to launch a co-branded credit card for T-Mobile US Inc., these people said. The account was close to becoming Goldman’s third card program, following Apple Inc. and General Motors Co. It would have been T-Mobile’s first credit-card program. 

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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.