If you think that Goldman Sachs has become a bit, well, common; that it’s gotten embarrassingly expansive and PC; that it’s attracting the lame and unambitious; that its foray into online lending has proven a slippery slope indeed; that it’s gotten downright uncouth and pedestrian and desperate; that its first credit card was not worthy of the name “Goldman Sachs;” well, you should probably sit down.
Goldman Sachs Group Inc. is seeking to acquire the credit-card business of General Motors Co., doubling down on consumer banking and betting on a future where people pay for gas, takeout and groceries from the driver’s seat….
In their pitches to GM, Goldman and Barclays have pushed the idea of cars as e-commerce portals, people familiar with the matter said, an effort that the auto maker itself has embraced….
A deal with GM would advance Goldman’s ambitions on Main Street. Since launching its consumer arm, Marcus, four years ago, the firm has amassed $7 billion in loans and is aiming for $20 billion by 2025.