The other private label lenders could find themselves in a better competitive position against the spun-off GE consumer finance company, because its "bank funding advantage could be moderated as the business would not likely have the same access to funding as it currently has," according to Sakhrani.

The business being spun off had a very strong 4% return on assets during 2012, with a profit of $2.2 billion on about $53 billion in total assets, according to KBW. That's a pretty impressive ROA, but the new company may be operating on a more even playing field than it currently enjoys. It will be very interesting to see how aggressive the new company's management will be in its efforts to gain new business following the spinoff.

GE's shares were up 0.6% in late morning trading Monday, to $27.37.

GE Chart GE data by YCharts

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-- Written by Philip van Doorn in Jupiter, Fla.

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Philip W. van Doorn is a member of TheStreet's banking and finance team, commenting on industry and regulatory trends. He previously served as the senior analyst for TheStreet.com Ratings, responsible for assigning financial strength ratings to banks and savings and loan institutions. Mr. van Doorn previously served as a loan operations officer at Riverside National Bank in Fort Pierce, Fla., and as a credit analyst at the Federal Home Loan Bank of New York, where he monitored banks in New York, New Jersey and Puerto Rico. Mr. van Doorn has additional experience in the mutual fund and computer software industries. He holds a bachelor of science in business administration from Long Island University.

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