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 .
Goldman Sachs announced that it is acquiring GE Capital"s US online banking business, $16bn of online savings accounts and other deposits. The bank began transforming itself after the financial crisis pushed it to become a deposit taker, bank holding company, regulated by the Fed. Earlier this year it hired the ex head of Discover Financial Services US cards division to start an online lending platform for consumers 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.