PENNED IN, FINANCE ARM LOST ITS ROLE AT GE.

The article discusses the dismantling of the U.S. conglomerate General Electric Co. (GE) financial unit GE Capital. According to the article, GE chief executive Jeffrey Immelt decided early in 2015 to shed GE Capital and the GE board of directors agreed to do so in an April 2, 2015, vote. The article states that GE Capital announced in October 2015 that it would sell a significant part of GE Capital to the bank Wells Fargo & Co. It also discusses the impact of U.S. financial legislation on GE Capital, including oversight by the U.S. central bank the Federal Reserve (Fed).