Topics

John Paulson
Protesters challenge $3.4-billion purchase of OneWest
Protesters challenge $3.4-billion purchase of OneWest

Two major advocacy groups for low-income Californians are calling on the Federal Reserve to reject the proposed $3.4-billion acquisition of Pasadena’s OneWest Bank by CIT Group -- at least until community groups can sound off at a public hearing.  “For the past five years, OneWest has been positioning itself as a bank for the wealthy,” said Orson Aguilar, executive director of the Greenlining Institute in Berkeley. “The last thing California needs is a too-big-to-fail bank for the 1%,” he said. In letters sent Friday to the Fed and other regulators, Greenlining and San Francisco's California Reinvestment Coalition said OneWest has a poor track...

Loading