Nearing deal to replace Goldman Sachs as issuer

JPMorgan Chase, already the largest credit card issuer in the U.S., is nearing a deal to take over the Apple Card portfolio from Goldman Sachs, people familiar with the matter told CNBC.

The banks declined to comment to CNBC. Apple didn’t immediately return request for comment.

Negotiations between JPMorgan and Apple have progressed as earlier contenders for the card including American Express, Synchrony and Barclays have fallen to the side, said the people, who declined to be identified speaking about the agreement.

The Wall Street Journal first reported on the advanced talks.

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