More Cracks Are Emerging in Goldman Sachs' Consumer Banking Division. Should Investors Be Worried?
Not long ago, Goldman Sachs' (NYSE: GS) consumer banking efforts led by its digital bank Marcus received lots of praise for its ability to quickly bring in lots of new customers and deposits. The small but growing consumer bank was seen as a key way for the longtime investment banking powerhouse to diversify and stabilize its earnings. Recently, media outlets reported that the consumer bank has lost about $4 billion since launching in 2016.