“General Electric Co.’s finance arm agreed to buy the U.S. retail-deposit business of insurer MetLife Inc., in a deal that matches the life insurer’s desire to get out from under federal regulation with GE’s pursuit of a more-reliable funding source.”

“The acquisition will bring GE Capital $7.5 billion in deposits as well as MetLife’s online-banking platform. The deal will speed GE’s new effort to attract more individual savers and further reduce its reliance on potentially volatile financial markets for funds.”

Read the full story here.