NEW YORK—Goldman Sachs said it will take over General Motors’ credit card business.
The New York investment firm will be the issuing bank for the automaker’s credit card programs, with the start of the program targeted for September, The Street reported.
Mastercard will remain the network for the cards.
GM launched its first consumer card in 1992. Since then, customers have redeemed earnings toward the purchase of new Chevrolet, Buick, GMC and Cadillac vehicles, The Street said.