MetLife (MET) says it's restructuring the terms of its proposed sale of its banking business to...
MetLife (MET) says it's restructuring the terms of its proposed sale of its banking business to GE. Instead of selling the $7B in deposits to GE Capital Bank, MET will now sell it to another GE unit, GE Retail Bank. The new terms of the deal mean the sale must be approved by the Office of the Comptroller of the Currency rather than the FDIC, which it had met with repeatedly in recent months without getting approval to the proposed transaction.
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