MetLife Bank / GE Capital Bank: Rates and Review

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MetLife Bank was the retail banking arm of MetLife (NYSE: MET). The bank was formed in 2001, when the company purchased Grand Bank and rebranded it; at the time, MetLife was the first insurance company with a banking arm. In 2008, MetLife Bank acquired First Horizon National Corporation's mortgage division and EverBank's reverse mortgage division. The bank became a major player in both traditional mortgage lending and reverse mortgage origination. At its peak, MetLife Bank offered competitively priced CDs, mortgages, auto loans, savings accounts, and other consumer banking products.

However, in 2011, MetLife decided that it was no longer appropriate to operate MetLife Bank. The bank first stopped originating mortgages & reverse mortgages, then in January of 2013, MetLife solid its deposit business to GE Capital Retail Bank, GE's banking division.

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