this post was submitted on 30 Nov 2023
141 points (100.0% liked)

Technology

59414 readers
2809 users here now

This is a most excellent place for technology news and articles.

Our Rules

  1. Follow the lemmy.world rules.
  2. Only tech related content.
  3. Be excellent to each another!
  4. Mod approved content bots can post up to 10 articles per day.
  5. Threads asking for personal tech support may be deleted.
  6. Politics threads may be removed.
  7. No memes allowed as posts, OK to post as comments.
  8. Only approved bots from the list below, to ask if your bot can be added please contact us.
  9. Check for duplicates before posting, duplicates may be removed

Approved Bots

founded 1 year ago
MODERATORS
[email protected]
[email protected]
[email protected]
[email protected]
[email protected]
141
Report: Apple to end partnership with bank that backs Apple Card, savings accounts (arstechnica.com)
submitted 11 months ago by [email protected] to c/[email protected]
22 comments fedilink hide all child comments
 

Report: Apple to end partnership with bank that backs Apple Card, savings accounts::Goldman Sachs has lost billions of dollars on its consumer-focused businesses.

you are viewing a single comment's thread
view the rest of the comments
[โ€“] [email protected] 8 points 11 months ago (1 children)

Yeah they have a physical storefront in every state so, as a bank, they would need to follow the specific financial laws of each state. Gets super complicated because you end up with different interest rates depending on where the customer lives.

[โ€“] [email protected] 8 points 11 months ago

Even if they decided to do it themselves, they'd spin up a subsidiary to do the actual banking. No way Apple would want their retail stores having to live up the the rather strict standards of banks.