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Comment by xyst | Hacker News Reader

Goldman has been winding down consumer bank operations for awhile. Checking/savings account division (Marcus?) was sold off or dissolved

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News to me, since I still have a Marcus account that is fully functional and the website says "Goldman Sachs" all over it. I've been expecting it to split off or shut down at some point, but no signs of it so far from my perspective.

Supposedly the handover isn't actually until "next Summer" though the deal to sell it to Barclay's seems "done" as of October (which the parent article also mentions): https://gmauthority.com/blog/2024/10/gm-and-barclays-announc...

They sold off Marcus? Lul.

They were begging for (below market wage) devs to pack those seats pre2020

That explains why they have been unable to implement CSV export of transactions all these years.

Looking back. They sold off consumer investment division in April 2024 to Betterment [1]

GS offloaded $1B in consumer loans to Varde the year prior [2]. Marcus website doesn’t even have a way to apply for personal loans.

Then of course the widely discussed bad terms of the Apple and GS partnership and rumors of GS trying to sell this to another bank. [3]

Not quite sold off but consumer division is circling the drain.

[1] https://finance.yahoo.com/news/betterment-acquire-digital-in...

[2] https://www.reuters.com/business/finance/goldman-sachs-offlo...

[3] https://www.aol.com/news/apple-talks-jpmorgan-bank-over-2016...

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