Fed Giving More Time For Comments On Goldman's Planned Buy Of GE Unit

The Federal Reserve said it's giving more time for comments on Goldman Sachs's proposed acquisition of General Electric's online bank that had about $16 billion in assets. The Fed said the extension will allow comments on whether the deal meets the Bank Merger Act, which sets standards on the convenience and needs of the communities to be served, the effects of the proposal on the stability of the U.S. banking or financial system, the financial and managerial resources and future prospects of the institutions involved in the proposal, and competition in the relevant markets. The new comment period will end on Oct. 30.