Goldman Is Looking to Reduce Marcus Lending Goal on Credit Caution
- Bank is said to scale back loan origination target for 2019
- Marcus consumer unit is key pillar of new CEO’s revenue plan
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Goldman Sachs Group Inc. is looking to restrain the rapid expansion of its online lending platform as the firm grows more cautious on the consumer debt market that’s a key area of growth.
The firm’s Marcus unit cut its loan-originations target for next year, according to people with knowledge of the plans. The revision reflects concern about the stage of the credit cycle and changes in market data, the people said, asking not to be identified as the information isn’t public.