Episode 1486 • • 1:15:09 - 1:17:09
1486: Truth Decay
Goldman Sachs Apple Card Losses and Subprime Lending
Goldman Sachs is experiencing a 2.93% net charge-off rate on the Apple Card, nearly double the rate of competitors like JPMorgan. Data reveals that 28% of Apple Card loans were issued to customers with FICO scores below 660, leading to significant defaults.