October 14, 2016
Goldman Sachs Group, better known for serving customers with millions and billions on their balance sheets, is reaching out to the average U.S. consumer. The institution’s online platform, called Marcus, is live, meaning regular Americans can borrow money from the Wall Street firm. Marcus offers loans up to $30,000, targeting individuals interested in consolidating high amounts of credit card and other types of debt.
The move puts Goldman in competition with the financial tech (fintech) firms, such as LendingClub Corp. and Avant Inc. It’s also another way in which the banking powerhouse continues g products to appeal to the middle-class population.
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