Goldman Sachs announced that it is acquiring GE Capital"s US online banking business , $ 16bn of online bank accounts and other deposits . The bank began transforming itself after the financial crisis pushed it to become a risk taker , bank holding company , controlled by the Fed . Earlier this year it hired the ex head of its Financial Services US banking division to start an online lending platform for individuals and small businesses . In a memo to employees it explained that this latest move gives it a more " diversified and stable funding source " . In a bid to create even more consumer products, it hired a former Discover executive earlier this year to start a new, online consumer-lending business with an eye toward credit-card financing and making loans to everyday borrowers for things like home remodels. Terms of the deal were not disclosed .
Goldman Sachs announced that it is acquiring GE Capital"s US online banking business , $ 16bn of online bank accounts and other deposits . The bank began transforming itself after the financial crisis pushed it to become a risk taker , bank holding company , controlled by the Fed . Earlier this year it hired the ex head of its Financial Services US banking division to start an online lending platform for individuals and small businesses . In a memo to employees it explained that this latest move gives it a more " diversified and stable funding source " . Terms of the deal were not disclosed .