Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 12 OCTOBER 2020

Luxury Market Changes

Crowe
Explore more from Crowe

Goldman Sachs Group Inc. is buying General Motors' credit card business for about $2.5 billion, the Wall Street Journal reported Thursday, citing people familiar with the matter.

CanadaFinance and Banking
Crowe MacKay LLP
Crowe MacKay LLP
Author LinkedIn connections

GOLDMAN TO BUY GM'S CREDIT BUSINESS FOR $2.5 BILLION, REPORT SAYS

Goldman Sachs Group Inc. is buying General Motors' credit card business for about $2.5 billion, the Wall Street Journal reported Thursday, citing people familiar with the matter. The Wall Street bank won the bidding for the deal over Barclays, according to the Journal.

GM's credit card issuer Capital One Financial Corp. and Goldman have agreed upon the purchase price and expect to finalize the deal in the coming weeks, the report said.

The acquisition will enhance Goldman's focus on its consumer banking business, which it is expanding to even out volatile results from segments such as trading and investment banking.

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

A New Structure Enters The Ring: CIRO’s Incorporated Approved Person Compensation Proposal

The Canadian Investment Regulatory Organization’s (CIRO) proposed Incorporated Approved Person model could materially change how client-facing advisors structure their businesses and receive compensation with significant impacts to sponsoring firms. The proposed rule amendments, published on July 9, 2026, would introduce a harmonized incorporated compensation option for client-facing Approved Persons across CIRO regulated dealers. Comments are due November 6, 2026.
CanadaFinance and Banking
Borden Ladner Gervais LLP
Borden Ladner Gervais LLP
Article

Canada’s Revised AML Framework: Sweeping Penalties And Compliance Requirements

Bill C-12 has fundamentally transformed Canada's anti-money laundering framework by introducing penalties up to forty times higher than previous levels and expanding compliance obligations across the financial sector. The legislation now requires all reporting entities to enroll with FINTRAC and maintain "reasonably designed, risk-based and effective" compliance programs, while imposing cumulative maximum penalties that can reach 3% of global revenue.
CanadaFinance and Banking
Miller Thomson
Miller Thomson
Article

The Q3 2026 PE Briefing

The Canadian private equity landscape navigates a transition period marked by prolonged market volatility and stalled exit activity, yet demonstrates resilience through strategic investments in high-growth sectors. Q3 2026 analysis reveals how larger commitments, power and utilities investments, evergreen fund expansion, and healthcare sector dynamics are shaping the market amid escalating trade tensions and evolving investor strategies.
CanadaFinance and Banking
Bennett Jones LLP
Bennett Jones LLP