Goldman Sachs Group Inc. (GS) wants your cash. And you might actually want to give it to them.
The Wall Street investment bank is trying to transform itself into a broader financial-services company like bigger rivals Bank of America Corp. (BAC) and JPMorgan Chase & Co. (JPM) . So a couple years ago, Goldman expanded beyond its traditional clientele — elite corporations, big investors and the super-rich — to provide retail banking through a new website called Marcus. The company now offers both personal loans and savings accounts, with a minimum deposit of just $1. So, ordinary people can apply.
