WASHINGTON - After gaining government approval Tuesday, E-Trade Group Inc. plans to close its $1.1 billion deal for Telebanc Financial Corp. today or later this week.

The merger brings together E-Trade Securities Inc., the on-line brokerage with $30 billion of assets in more than 1.5 million customer accounts, and Telebank, a branchless thrift with $2 billion of deposits held by 100,000 customers. The thrift will be renamed E-Trade Bank and continue as a national low-cost marketer of retail banking services.

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