Fremont General Credit Corporation

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FDIC Steps in on Fremont, Again; Gives Bank 60 Days to Capitalize

Mar 28, 2008By

Troubled bank and mortgage lender Fremont General said on Friday that Federal regulators had stepped in and given it 60 days to raise additional capital, or face a forced sale. The Federal Deposit Insurance Corporation issued a so-called Supervisory Prompt Corrective Action Directive to Fremont General and to Fremont General Credit Corporation, the company said, requiring the bank to take immediate steps to recapitalize.

3d rendering of a row of luxury townhouses along a street

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