WSJ: JPMorgan in talks with Apple for credit card business ...Middle East

The WSJ is reporting that JPM is in talks with Apple to take over credit card business from Golman. The program has over 12 million users and roughly $17 billion in outstanding balances.Apple has been seeking a new issuer after deciding to part ways with Goldman Sachs, the current issuer, last year.JPMorgan is seeking concessions from Apple, including paying less than the full face value of the outstanding balances and changing the billing structure of the card program.Apple has signaled that it is open to making changes to the billing structure, which could help to alleviate customer-service issues and regulatory scrutiny.A deal between JPMorgan and Apple would further tie together America'

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