Goldman Sachs is nearing a deal to sell a $2 billion portfolio of loans tied to General Motors credit card customers to Barclays, marking a significant retreat from its consumer banking ambitions. The transaction, which is expected to occur at a discount to the outstanding balances, is part of Goldman’s broader strategy to exit unprofitable retail ventures, with CEO David Solomon estimating a $400 million pre-tax charge as a result. This decision follows substantial losses in their credit card operations, including the recent abandonment of the GM credit card program, which had high charge-off rates. Barclays aims to expand its U.S. consumer credit-card business by adding $10 billion in assets over the next few years, potentially leveraging this acquisition. As the financial landscape shifts, both banks are redefining their strategies to adapt to changing market conditions.