Fortress Investment Group funds agreed yesterday to buy American General Finance, a big consumer lending business, from American International Group.

The Fortress funds could use the business as a platform to buy other struggling lenders. Throw in a few acquisitions of failed banks and the business would get a new source of funding that fixes one of American General Finance's main problems, according to analysts at CreditSights, an independent fixed-income research firm.

Fortress may use AIG unit to buy struggling banks

Yesterday hedge fund agreed to buy American General Finance, a big consumer lending business

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