Advertisement

Bid for Fremont wins state OK

Share via
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
Advertisement