Bloomberg Law
Oct. 14, 2015, 4:00 AM

GE $126 Billion in Asset Sales Sets Up Too-Big-To-Fail Exit

General Electric Co.'s sweeping plan to divest its U.S. finance operations neared completion Oct. 13, putting the industrial giant on the verge of ending its status as a too-big-to-fail lender.

GE intends to apply in the first quarter to drop its federal designation as a systemically important financial institution, said Keith Sherin, chief executive officer of the GE Capital unit. A deal Oct. 13 with Wells Fargo & Co. to sell $32 billion in assets brings the agreed-upon disposals to $126 billion and leaves just one sizable U.S. division left to unload.

“That is a big step and a confidence ...

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