GE launches sales process for U.S. lending operation

• Continuing the broad retreat from its finance businesses, General Electric (NYSE:GE) has launched the bidding process for a $40B portion of its U.S. commercial lending assets, WSJ reports, as a key step toward escaping a SIFI designation from the Fed.
• The chunk of the operation represents more than half of GE's $74B U.S. commercial lending and leasing portfolio that includes loans for equipment purchases, financing and leases for midsize firms.