GE, Capital One Said to Vie for ING’s Online Bank Division

General Electric Co. and Capital One Financial Corp. submitted bids for ING Groep NV’s U.S. online bank last week in a sale that may raise about $9 billion, said people with direct knowledge of the matter.

The Dutch lender may reach an agreement to sell the ING Direct USA unit as soon as this month, said the people, who spoke on condition of anonymity because the talks are private. GE made an all-cash bid, while the offer from McLean, Virginia-based Capital One includes some stock, the people said.