Tensions rise over Apple Card as Goldman Sachs asserts control

Like basically every other Apple product, the Apple Card was marketed as a product created entirely to the company’s specifications. It’s re...

Like basically every other Apple product, the Apple Card was marketed as a product created entirely to the company’s specifications. It’s reflected in the slogan, too: “Created by Apple, not a bank”.

Except the Apple Card does, of course, need the infrastructure of a financial institution in order to operate, and that institution is Goldman Sachs, the bank Apple collaborated with to create the Card. And according to the bank, the Apple Card was and is controlled by Goldman Sachs, not the iPhone maker, despite what the latter may claim.

As reported, Goldman Sachs states that, though ...

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