JPMorgan Chase is in talks with Apple about taking over the tech giant's credit card business from Goldman Sachs. The Wall Street Journal reported. Tuesday.
Talks reportedly began earlier this year and have progressed in recent weeks, but an agreement could still be several months away.
Key details, including price, are reportedly still under negotiation.
Goldman Sachs declined to comment, while JPMorgan and Apple did not immediately respond to Reuters requests for comment.
Goldman and Apple reportedly ended their credit card partnership last year.
The big Wall Street banks would be making a costly withdrawal from the partnership, which other financial institutions see as too risky to be profitable, sources told Reuters in December.
JPMorgan shares rose 0.8% on Tuesday.
