Goldman Sachs seeks exit from Apple Card partnership amidst mounting losses

Goldman Sachs has lost over $1 billion on the Apple Card and is exploring selling the portfolio to American Express.
The bank faces regulatory scrutiny over its handling of billing errors and refunds for Apple Card customers.
Goldman Sachs entered unfamiliar territory in consumer lending and admits the Apple partnership was a mistake.
Tensions have risen between Apple and Goldman Sachs over customer service responsibilities and billing cycles.
While popular at first, deposits into Apple's Goldman-backed savings accounts have declined recently.