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Opponents of sale of OneWest seek investigation
Opponents of sale of OneWest seek investigation

A leading public advocacy group that had opposed the sale of Pasadena's OneWest Bank asked federal regulators for a formal investigation into what it called the bank's efforts to "buy community support" for the deal. The Greenlining Institute, in a letter released Thursday, contends that OneWest Chief Executive Joseph Otting had threatened to withhold funding to church and community groups unless they spoke in favor of the $3.4-billion purchase by CIT Group in New York at a special hearing last week. Otting, in a bid to counter calls for the hearing, had launched an unusual online effort in early January to swing support for the controversial deal by urging business...

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