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.

Apple has expressed a preference for JPMorgan Chase, indicating a strong possibility of a partnership that would bring together two of America's most powerful companies, the repor

Sources told CNBC that JPMorgan has emerged as the frontrunner in discussions with Apple after other potential partners, including American Express, Synchrony and Barclays, were no longer in the running.