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Groups urge U.S. to reject CIT takeover of OneWest Bank
Groups urge U.S. to reject CIT takeover of OneWest Bank

Two major community advocacy groups called on federal regulators to reject CIT Group Inc.'s proposed $3.4-billion takeover of Pasadena's OneWest Bank, contending that the bankers are catering to the rich and neglecting lower-income California borrowers. The California Reinvestment Coalition in San Francisco and the Greenlining Institute in Berkeley called on regulators to halt the deal or, at least, hold public hearings on issues the groups are raising in the biggest bank merger of the year. "For the past five years, OneWest has been positioning itself as a bank for the wealthy," Orson Aguilar, executive director at Greenlining, said Monday. "The last thing...

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