Citigroup’s OneMain Wins U.S. Approval for Springleaf Sale

Nov. 16, 2015, 5:00 AM

Citigroup Inc.'s OneMain Financial unit won U.S. approval for its sale to Springleaf Holdings Inc., which agreed to sell branches to resolve antitrust concerns (U.S. v. Springleaf Holdings Inc., D.D.C., 15-01992, 11/13/15).

Springleaf, the lender that counts Fortress Investment Group as its largest investor, agreed to sell 127 branches in 11 states to Lendmark Financial Services to preserve competition for personal installment loans, according to court filings in Washington today.

“Personal installment loans are often a critical lifeline for borrowers with limited credit options,” said Assistant Attorney General William Baer, who heads the Justice Department’s antitrust division. ...

To read the full article log in. To learn more about a subscription click here.