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Goldman Sachs Faces Fed Scrutiny of Money-Losing Marcus Consumer Unit

  • Regulator is looking into operation of six-year-old business
  • Review adds to pressure on managers to show it’s under control
Bloomberg business news
WATCH: Officials have been looking into Goldman Sachs’s online-banking platform aimed at retail customers. Sridhar Natarajan reports.Source: Bloomberg
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Goldman Sachs Group Inc.’s six-year foray into consumer banking -- the unit dubbed Marcus -- is the focus of a new review at the Federal Reserve.

Fed officials have been looking into the Wall Street giant’s online-banking platform aimed at retail customers, according to people with knowledge of the matter. For at least several weeks, they’ve been peppering Goldman management with questions and follow-ups in a process that’s still continuing, the people said, asking not to be identified discussing confidential information.