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Apple is reportedly close to replacing Goldman Sachs with JPMorgan Chase as the issuer of its Apple Card. Goldman Sachs is exiting the consumer finance market after facing financial losses. Negotiations between Apple and JPMorgan Chase have intensified recently, although challenges remain and no deal is finalized. The agreement includes the Apple Card and a high-yield savings account, the future of which is uncertain. While Apple considered other firms like American Express and Capital One, JPMorgan Chase appears to be the leading contender.

Prepared by Christopher Adams and reviewed by editorial team.