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Real Estate & Property Law

: Housing Wire

GMAC Latest to Seek Bank Status, Access to Treasury Funds

By PAUL JACKSON

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GMAC Financial Services, the mammoth auto and mortgage financing arm tied to U.S. auto giant General Motors Corp. (GM: 2.88 +3.23%), said early Thursday that it had submitted an application to the Federal Reserve to become a bank holding company, in an attempt to access funds under the Treasury’s capital purchase program. The move is [...]

Full post as published by Housing Wire on November 20, 2008 (boomark / email).

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