Goldman Sachs launches GS Bank, an Internet bank with a $1 minimum deposit

 Goldman Sachs has traditionally functioned like a run-of-the-mill investment bank. Minimums to open an account were in the range of $10M, and returns were not guaranteed. While that will still remain true for the firm’s wealth management arm, Goldman is opening its doors to the masses with the launch of GS Bank, an FDIC-insured, internet-based savings bank. And just what do we mean by… Read More