Investment Banking

Goldman Sachs and Barclays vie for GM’s credit-card business

Barclays and Goldman among bidders for auto maker’s credit-card business, which has about $3 billion in outstanding balances

Goldman Sachs is seeking to acquire the credit-card business of General Motors, doubling down on consumer banking and betting on a future where people pay for gas, takeout and groceries from the driver’s seat.

The Wall Street firm is among a small number of bidders for the auto maker’s credit-card business, which has about $3bn in outstanding balances, according to people familiar with the matter.

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