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TheElasticTuba t1_j8p0q99 wrote

I wonder how this will turn out though with Apple also being a retailer themselves. Hundreds of retailers in the past have gotten into trouble for essentially running as a bank with lines of credit and things like that, and this is walking a fine line into that. Apple gets away with the Apple Card, because jt’s handled through Synchrony Bank, but this being through them is getting a lot closer to self-banking. Sure, it’s not exactly credit, but I’m still intrigued how Congress and everything will see it.

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Sunshineinanchorage t1_j8q4q8z wrote

I thought the Apple Card was handled by Goldman Sachs?

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TheElasticTuba t1_j8q4vaa wrote

Ah my mistake. Still though, point stands that the reason it’s fair game for Apple is it’s handled by an outside bank. This comes a lot closer to self-banking.

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