consumer loans

GE Capital Buys Citigroup's Retail Loans

General Electric unit GE Capital announced Tuesday that it had acquired the retail finance portfolios from Citigroup's Retail Partner Cards to add $1.6 billion in managed assets. Financial terms of the deal were not disclosed, but GE Capital expects it will immediately add to earnings.

Loan Approval Rate Expected to Drop as Applications Rise

Approval rates for bank loans will likely fall as the number of applications increase over the next six months, according to a recent survey of banking professionals released today by Fair Isaac and Northwestern University's Kellogg School of Management.