Goldman Sachs Struggles with Losses and Revenue Misses.
Goldman Sachs has sold off some loans from its consumer-banking arm, Marcus, resulting in a nearly $500 million loan loss in the business. The bank has been trying to expand into loans and savings products for the less well off, but has faced continuous setbacks, with more than $3 billion in losses tied to that business over the previous years. Goldman's chief financial officer, Denis Coleman, told analysts that the firm still had billions of dollars of consumer loans on its books, having found buyers for just $1 billion so far.
