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intensify, potentially leading to a shift from the current issuer, Goldman Sachs. This move comes as Goldman Sachs continues to struggle with substantial losses in its consumer business.
JPMorgan Chase, emerging as the front-runner, is reportedly interested in acquiring the Apple Card business but at a discount to the outstanding balances. The bank is eyeing potential risks associated with Apple's subprime exposure and current program terms. Additionally, JPMorgan has indicated its intention to revamp certain"key components" of the Apple Card, including the much-discussed synchronized billing system that has been a source of logistical challenges for Goldman Sachs.
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