Goldman Sachs is set to post a $400 million hit to its third-quarter results as it unwinds its consumer business. The financial giant is also finalizing a deal to transfer its General Motors credit card business to Barclays, which has been complicated by high charge-off rates. Additionally, Goldman is selling a $2 billion portfolio of loans made to General Motors customers and a significant risk transfer tied to a portfolio of about $3 billion of leveraged loans. The bank's CEO has warned of potential insolvency risks due to a 13.8x leverage ratio and $1.5 trillion in liabilities. These developments come as Goldman aims to streamline its operations and focus on investment banking, markets, and asset and wealth management. Meanwhile, Citi has warned of 4% losses in revenue for the third quarter.