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Charlotte Observer: Breaking News (Free subscription) | yesterday
(By Rick Rothacker, rrothacker@charlotteobserver.com) GMAC Financial Services, the troubled lender applying to become a bank holding company, is negotiating for office space in Ballantyne for a possible move of its headquarters to Charlotte, a source familiar with the situation said Thursday. If the company receives government approval to become a bank holding company, GMAC will need compliance,...
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San Fransisco Chronicle (Free subscription) | yesterday
GMAC applies to become a bank holding company GMAC Financial Services, the financing arm of General Motors, said Thursday that it applied to become a bank holding company, making it eligible for aid under the government's $700 billion bank rescue plan. GMAC...
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Detroit News (Free subscription) | yesterday
GMAC Financial Services announced Thursday that it has applied to become a bank holding company, a move that would let the home and auto finance company tap new capital from government regulators.
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Charlotte Observer: Breaking News (Free subscription) | yesterday
(By Rick Rothacker, rrothacker@charlotteobserver.com) GMAC Financial Services, the troubled lender applying to become a bank holding company, is negotiating for office space in Ballantyne for a possible move of its headquarters to Charlotte, a source familiar with the situation said today. If the company receives government approval to become a bank holding company, GMAC will need compliance,...
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Times of the Internet (Free subscription) | 11/20/2008
NEW YORK, Nov. 20 (UPI) -- GMAC Financial Services said Thursday it had applied to the U.S. Federal Reserve for bank holding company status, a step toward securing federal aid. The auto and home financing company said it had also submitted an application to the U.S. Treasury to participate in the Capital Purchase Program set up in the $700 billion financial firm bailout program known as the...
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WWMT.com : News (Free subscription) | 11/20/2008
NEW YORK (AP) - GMAC Financial Services has applied to the Federal Reserve to become a bank holding company, which would allow General Motors' financing arm to be eligible for aid under the Treasury's $700 billion bank rescue plan.
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Detroit News Online (Free subscription) | 11/20/2008
NEW YORK -- GMAC Financial Services has applied to the Federal Reserve to become a bank holding company, which would allow General Motors' financing arm to be eligible for aid under the Treasury's $700 billion bank rescue plan.
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DealBreaker (Free subscription) | 11/20/2008
GMAC Files Application With Federal Reserve to Become Bank Holding Company (Press Release via DB ) GMAC Financial Services ("GMAC") today announced that it has submitted an application to the U.S. Federal Reserve Board of Governors for approval to become a bank holding company under the Bank Holding Company Act of 1956, as amended (the "BHC Act"). GMAC also announced today that it has submitted...
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MichiganLiberal (Free subscription) | 11/20/2008
GMAC looks for funds to keep its auto financing arm operating. DENVER -- GMAC Financial Services has applied to become a bank holding company, which would allow General Motors' financing arm to be eligible for aid under the government's $700 billion bank rescue plan. GMAC said Thursday the change in status would shore up its capital position and allow it to continue providing automotive and...
