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

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.

    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

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