Goldman Sachs CEO David Solomon signaled the possible early end of the bank's Apple Card partnership due to financial losses and regulatory challenges.

Goldman Sachs CEO David Solomon said that there's "some possibility" the company's Apple Card partnership with Apple could end

Goldman Sachs' credit-card partnership with Apple may end before its contract runs out in 2030, Goldman CEO David Solomon said on Wednesday. "We have a contract with Apple to run that partnership until 2030,

Goldman Sachs’ CEO confirmed on a recent earnings call that the institution’s Apple Card partnership could end sooner than planned.

"There's some possibility" the credit-card partnership between Goldman Sachs (NYSE:GS) and Apple (NASDAQ:AAPL) will conclude before the contract's 2030 expiration date, Goldman CEO David Solomon said during his firm's (NYSE:GS) Q4 earnings call on Wednesday.

In late 2023, the news broke that Apple and Goldman Sachs would be calling it quits before the end of their contract. This was followed by months of rumors and speculation about Apple’s plans for a new partner,

News of the discussions comes just hours after Goldman CEO David Solomon said the bank may end its card deal with Apple before its contract ends in 2030. The Apple Card deal, which was signed in 2019, had dragged down Goldman’s return on equity by at least 75 basis points in 2024.

Regulatory woes, financial losses, and a potential partner swap could reshape the future of Apple's first credit card

Apple is in talks with Barclays to replace Goldman Sachs as the tech giant's credit card partner, said two sources familiar with the matter, as the Wall Street giant steps back from its consumer finance ambitions.