A deal for JPMorgan to take over the Apple Card and its huge book of loans would further burnish the bank's reputation as a leader in American finance.

JPMorgan Chase is talking to Apple about taking over the tech giant’s credit card program, according to an exclusive report in The Wall Street Journal. A deal of this size wouldn’t just impact the two companies at the heart of the agreement, it could leave JPMorgan Chase’s competitors at a disadvantage.

JPMorgan Chase is reportedly nearing a deal to take over the Apple Card, signaling a potential shake-up in one of Silicon Valley’s most prominent forays into consumer finance. Apple is said to be favoring JPMorgan as its next banking partner,