BANKING AND FINANCE
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Compiled by James S. Granelli, Times staff writer
Onyx Sells Securities: Onyx Acceptance Corp., an Irvine company specializing in automobile finance, said it has sold $38.6 million in securities backed by the automobiles it finances.
The company’s management should have some experience at creating such securities. It’s an offshoot of Western Financial Savings Bank in Irvine, which pioneered the sale of securities backed by automobile loans.
