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MetLife's (MET -1%) plan to sell its banking business to General Electric (GE +0.8%) hits...

MetLife's (MET -1%) plan to sell its banking business to General Electric (GE +0.8%) hits another speed bump, as regulators continue to question GE's plans for the unit. The FDIC met again yesterday to discuss the matter, but failed to take any action. The deal, which was struck back in December, was to have been completed by now, and the ongoing hold-up complicates MET's effort to shed its bank-holding-company status and the capital constraints imposed by the Fed.
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Comments (4)
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    I can't believe this hasn't been wrapped up.

     

    Regulator to GE: What are you going to do with the MET's banking unit?

     

    GE: Take in deposits and make loans.

     

    Regulator: Is that all?

     

    GE: Yes! What would you like us to do?

     

    Regulator: Something for us to complain about.
    12 Sep 2012, 12:44 PM Reply Like
  • doc47
    , contributor
    Comments (1310) | Send Message
     
    Silly me, I thought I heard GE say repeatedly that they were reducing their banking business!
    13 Sep 2012, 12:32 AM Reply Like
  • TwistTie
    , contributor
    Comments (2476) | Send Message
     
    That's correct. Theirs, and everybody elses.
    14 Sep 2012, 11:20 AM Reply Like
  • oilsands
    , contributor
    Comments (571) | Send Message
     
    Thank you twist tie for the summary. Well done!
    14 Sep 2012, 12:56 AM Reply Like
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