San Juan, Puerto Rico-based Popular, Inc., the parent of Banco Popular, announced today it has agreed to sell a large part of Equity One, its U.S. consumer finance operation, for $1.5 billion to a unit of American International Group.
The announcement said that the agreement with American General Finance Inc, involves Equity One's mortgage loan and consumer loan portfolio.
Equity One, based in Marlton, N.J., offers real estate secured, home improvement and unsecured loan products.
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