February 10, 2001
Article

E*TRADE Bank Completes Acquisition of LoansDirect, Launches Re-Engineered Bond Center

SUMMARY: No summary available
FEEDING THE MACHINE: In a move to diversify into consumer
lending, and to further integrate its online banking and
brokerage initiatives, E*TRADE Bank has finalized its
acquisition of LoansDirect, one of the nation’s largest online
mortgage originators. Deborah Newman, a spokesperson for
E*TRADE Bank, admitted that the new name of the integrated
platform and brand is still to be determined.

E*TRADE Bank also announced that it has re-launched its Bond
Center, expanding product from 3,000 to 7,500 fixed income
securities. E*TRADE has a network of over 25 dealers and was
one of the first online brokers to offer bond trading, when
the service launched two years ago. “E*TRADE’s strategy is to
continue creating a more diversified financial services
company,” said Newman.


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