MetLife (MET) can finally leave the banking business.

The global life insurer said Wednesday that the Office of the Comptroller of the Currency has conditionally approved the company's deal to sell $6.5 billion in deposits from MetLife Bank to GE Capital Retail Bank (GE), GE's consumer-lending arm.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.