Marcus, the Consumer Lending Business of Goldman Sachs, Proves to be a Giant Headache

Posted on 01/20/2023

Digital-first banking was a thing before 2022. Goldman Sachs’ retail digital bank called Marcus attempted to grow quickly during the period of expansionary monetary policy. This is when other non-bank lenders like Chime and MoneyLion (oneyLion Technologies) emerged. MoneyLion is the target of regulatory complaints from agencies including the Consumer Financial Protection Bureau (CFPB) and…

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