ING readies for sale of U.S. online banking division
ING Groep NV is preparing to sell its U.S. online banking division to meet European Union conditions for the firm’s bailout, Bloomberg reported. The Dutch financial services company had agreed to sell ING Direct USA, as well as its insurance and investment management operations, before 2013 as part of the bailout deal. It’s unclear whether ING plans to sell all or only part of the business. In November, ING began laying off 400 people in its U.S. insurance operations, including 38 in Des Moines, as it prepared to sell that unit in an initial public offering.
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