That is correct. I actually used to work for GE Capital. GE Capital will basically no longer exist. GE is selling off the majority of its GE Capital businesses and/or assets. A few small divisions will remain, but only if they relate to financing industrial or healthcare equipment. GE Capital could not compete with the other banks, and the stock price suffered for it as well. Time will tell whether this was a good idea.

Likely was the lack of lenders to help consumers purchase goods so they stepped in. GE did the same thing with Commercial and Industrial due to lack of lenders.

I wonder what prompted them to get into consumer finance in the first place. That's kind of strange leap from electronics and appliances to banking.

The name change was the start of the spin off that ultimately would separate GE from the bank. In the end, others will own the bank. GE is getting out of the consumer finance field.

I have a couple different cards that have changed to Synchrony bank. I haven't seen any changes at all over the past few months, just the name change. I've noticed that a lot of places that I have credit through have changed their name over the years. In fact, my mortgage company has changed names three times now in the last ten years.

The end result is for GE to spin it off and give up all ownership (which they did). They were working on ending any ties with the new bank and returning themselves to their core business electronics and related (out of the financing game).

This card I still have and I haven't seen any changes to the terms so far. I am not a fan of GE in general, because I know how a lot of their employees are treated, but it wasn't shown as part of GE when I initially got the Care Credit card for dental work payment.

I have their Care Credit card and I got the new card when they changed to Synchrony, but I didn't bother to check if there are any major differences. I haven't used the card in a couple years, so it didn't really occur to me to see if they changed the terms.

I logged into my Amazon store account, hadn't been on it in a while and I didn't see anything posted on here so far, but an ad on my account mentioned that they were changing their name to Synchrony Bank. Looks like its just a name change, as far as I can tell. I know their was an article going around about GE selling its store card products, but I haven't heard anything else about it. Could this be part of that move?