GE Capital

GE Capital, formerly General Electric Capital Corporation, was a major diversified financial services company and a subsidiary of General Electric Company. It was founded in 1932 as General Electric Contracts Corporation to help consumers finance the purchase of GE appliances. Over decades, it grew into a global financial services conglomerate through acquisitions and diversification, at its peak holding over $600 billion in assets and ranking as one of the largest non-bank financial institutions in the U.S. Following the 2008 financial crisis and increased regulatory scrutiny, GE began to wind down GE Capital, culminating in its formal closure in March 2024[3][7][11].