Advertisement
YOU ARE HERE: LAT HomeCollectionsFixme

Business Briefing / BANKING

Bid for Fremont wins state OK

June 14, 2008|From Times Staff and Wire Reports

CapitalSource Inc. won approval from California regulators to buy assets of Fremont General Corp., once the fifth-largest U.S. sub-prime lender.

The deal requires approval of the Federal Deposit Insurance Corp., Chevy Chase, Md.-based CapitalSource said.

Selling its retail bank to CapitalSource may keep Brea-based Fremont from filing for bankruptcy after rising delinquencies forced it to stop making loans last year.

Advertisement
Los Angeles Times Articles
|
|
|