In early December, JPMorgan (JPM) CEO Jami Dimon and Goldman Sachs (GS) CEO David Solomon got on a call to discuss why the deal for trading the Apple (AAPL) credit-card program and its roughly $20B in balances was taking so long, agreeing to see the deal through soon, AnnaMaria Andriotis of The Wall Street Journal reports, citing people familiar with the matter. Just before the New Year, the banks finalized the deal, with JPMorgan getting to add the program to its credit-card operation, Apple obtaining a new parter eager to grow the card, and Goldman Sachs closing its failed venture into consumer lending.
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