Goldman’s move follows similar initiatives in recent months by the biggest U.S. financial firms.

The Jackson, Miss.-based credit union is part of an alliance that also includes the megabank, seven cities and nine historically Black colleges and universities, and aims to provide investments of up to $130 million to help stabilize businesses and communities hit hard by the pandemic.

Its Marcus unit continues to invest in new products and business lines, delaying its path to profitability, according to Goldman Sachs CEO David Solomon.

Goldman Sachs' dealmakers capped their record year with a fourth-quarter revenue jump that helped profit more than double.

Goldman Sachs Group Inc. signed a deal to take over General Motors' credit card portfolio.

Goldman Sachs will work with the digital-payments upstart Marqeta on offering checking accounts for Main Street consumers.

Patel is among Goldman Sachs's most senior women and shepherded some of its highest-profile relationships with investors around the world.

Open banking will drive an unprecedented move by banks, payments and technology firms to integrate and collaborate on banking-as-a-service, says Prime Trust's Scott Purcell.

The banks will aim to attract new small-business customers by targeting the merchants that use Stripe's payment processing platform.

Former Commodity Futures Trading Commission Chairman Gary Gensler and KeyBank NA executive Don Graves have been tapped to examine financial regulators as part of Joe Biden’s presidential transition, according to a person familiar with the matter.