Goldman Sachs’ hot new business is lending to subprime consumers, and Wall Street’s starting to ask questions (GS)
|04/17/2018||Posted by BusinessMediaguide.Com under General World News||
- Goldman Sachs launched Marcus, an online lending business, in October 2016.
- The business has now originated $3 billion in loans, according to Goldman Sachs CFO Marty Chavez.
- But analysts have expressed concern over the quality of these loans, with one analyst noting on Goldman Sachs’ first quarter earnings call that a chunk of the loan book is subprime.
Goldman Sachs is lending to subprime consumers. Yes, you read that right.
The prestigious Wall Street bank launched Marcus, an online lending business, in October 2016, and has grown the unit swiftly since launch. The unit has now originated $3 billion in loans, read more >>>