One of the biggest investment banks on Wall Street is making a change to its business model. Goldman Sachs (GS) is ready to lend you money. Last month, the bank hired Harit Talwar, the former CMO at Discover Financial Services, as a partner. Soon Goldman will offer loans online to both consumers and to small businesses as it looks to tap into a marketplace worth nearly $850 billion. It’s a big change for Goldman’s business model — before, the only people who could obtain a loan from the bank were its high-net-worth clients. Taking on consumer lending means taking on a growing field of competitors.
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