Menu <https://nypost.com/> - <https://nypost.com/2022/09/16/goldman-sachs-consumer-banking-unit-facing-fed-scrutiny-report/?share=facebook> - <https://nypost.com/2022/09/16/goldman-sachs-consumer-banking-unit-facing-fed-scrutiny-report/?share=twitter> - <https://nypost.com/2022/09/16/goldman-sachs-consumer-banking-unit-facing-fed-scrutiny-report/?share=flipboard> - - <?subject=New%20York%20Post%3A%20Goldman%20Sachs%27%20money-losing%20consumer%20unit%20facing%20Fed%20scrutiny%3A%20report&body=I%20thought%20you%27d%20be%20interested%20in%20this%20story%20from%20the%20New%20York%20Post.%0A%0AGoldman%20Sachs%27%20money-losing%20consumer%20unit%20facing%20Fed%20scrutiny%3A%20report%0Ahttps%3A%2F%2Fnypost.com%2F2022%2F09%2F16%2Fgoldman-sachs-consumer-banking-unit-facing-fed-scrutiny-report%2F%3Futm_source%3Demail_sitebuttons%26utm_medium%3Dsite%2520buttons%26utm_campaign%3Dsite%2520buttons%0A%0AFor%20more%20on%20the%20New%20York%20Post%20and%20to%20download%20our%20apps%2C%20visit%20https%3A%2F%2Fnypost.com&share=email&subject=%5BShared%20Post%5D%20Goldman%20Sachs%27%20money-losing%20consumer%20unit%20facing%20Fed%20scrutiny%3A%20report&body=https%3A%2F%2Fnypost.com%2F2022%2F09%2F16%2Fgoldman-sachs-consumer-banking-unit-facing-fed-scrutiny-report%2F%3Futm_source%3Demail_sitebuttons%26utm_medium%3Dsite%2520buttons%26utm_campaign%3Dsite%2520buttons&share=email> - BUSINESS <https://nypost.com/business/> Goldman Sachs’ money-losing consumer unit facing Fed scrutiny: report By Reuters September 16, 2022 | 11:32am Goldman Sachs’ consumer banking unit is being reviewed by the Federal Reserve, Bloomberg Law reported on Friday, citing people familiar with the matter. MORE ON:GOLDMAN SACHS <https://nypost.com/tag/goldman-sachs/> - Guerrilla campaign gives free coffee to Goldman bankers after Wall St. firm killed perk <https://nypost.com/2022/09/12/guerilla-campaign-gives-free-coffee-to-goldman-bankers-after-wall-st-firm-killed-perk/> - Goldman Sachs preparing layoffs across all departments as soon as next week: report <https://nypost.com/2022/09/12/goldman-sachs-preparing-layoffs-across-all-departments-as-soon-as-next-week-report/> - Goldman Sachs yanks 'free coffee' perk as bankers return to five-day week <https://nypost.com/2022/09/11/goldman-sachs-yanks-free-coffee-perk-as-bankers-return-to-five-day-week/> - BlackRock CEO Larry Fink vows 'harder line' in bringing workers back to office <https://nypost.com/2022/09/07/blackrocks-larry-fink-vows-harder-line-in-bringing-workers-back-to-office/> Goldman’s management has been subjected to questions and follow-ups from the central bank’s officials for several weeks, the report said <https://bit.ly/3BJcc1i>, adding that the process was still ongoing. Goldman Sachs and the Fed declined to comment. Goldman chief executive officer David Solomon has sought to reduce the bank’s reliance on volatile trading and investment banking by shifting focus to its consumer bank <https://nypost.com/2022/08/04/goldman-sachs-discloses-probe-into-us-credit-card-division/> . Internal projections at the bank show its consumer unit, Marcus, will record losses of more than $1.2 billion this year <https://nypost.com/2022/06/28/goldman-sachs-warns-of-1-2b-loss-from-consumer-unit-report/>, Bloomberg News reported in June. [image: Goldman CEO David Solomon] <https://nypost.com/wp-content/uploads/sites/2/2022/09/david-solomon-goldman.jpg>Goldman CEO David Solomon has sought to reduce the bank’s reliance on volatile trading and investment banking by shifting focus to its consumer bank. REUTERS Marcus was launched in 2016 and was originally expected to make profits in 2021, but the cost of investing in new products and acquisitions derailed those projections. FILED UNDER BANKS <https://nypost.com/tag/banks/> , DAVID SOLOMON <https://nypost.com/tag/david-solomon/> , FEDERAL RESERVE <https://nypost.com/tag/federal-reserve/> , GOLDMAN SACHS <https://nypost.com/tag/goldman-sachs/> , WALL STREET <https://nypost.com/tag/wall-street/> , 9/16/22 <https://nypost.com/2022/09/16/> <https://dynamic-cdn.spot.im/yad/optout.html> TRENDING NOW 1. Chrissy Teigen reveals baby Jack died in 'life-saving abortion,' not miscarriage <https://pagesix.com/2022/09/16/chrissy-teigen-reveals-baby-jack-died-in-life-saving-abortion/> 2. Erin Andrews had terrifying Week 1 experience: 'Not the way I want to die' <https://nypost.com/2022/09/16/erin-andrews-had-terrifying-week-1-experience-while-on-aaron-rodgers-call/> 3. Kate Middleton shot icy glares at Meghan Markle to 'freeze' her out: expert <https://pagesix.com/2022/09/15/kate-middletons-icy-glares-at-meghan-markle-body-language-expert/> 4. 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