March 23, 2016 / 6:58 PM / in 2 years

New York banking regulator gives blessing to Goldman, GE bank deal

WASHINGTON (Reuters) - The New York Department of Financial Services on Wednesday approved Goldman Sachs Group Inc GS.N acquisition of GE Capital Bank’s U.S. online deposits.

A Goldman Sachs sign is seen above the floor of the New York Stock Exchange shortly after the opening bell in the Manhattan borough of New York January 24, 2014. REUTERS/Lucas Jackson

The Federal Reserve earlier this week gave permission for the $17 billion deal which gives Goldman control of around $95 billion in deposits through its GS Bank unit.

With approval from the Federal Reserve and New York, the transaction needs support of Utah regulators.

Reporting By Patrick Rucker; Editing by Chris Reese

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below