Bid for Fremont wins state OK
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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.
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