GMAC Granted Bank Status Now Eligible To Tap Into $700 Billion Federal Bailout [Archive] - Chevy Truck Forum

View Full Version : GMAC Granted Bank Status Now Eligible To Tap Into $700 Billion Federal Bailout

Steve

12-25-2008, 12:07 AM

The Federal Reserve approved GMAC Financial Services' request to become a bank holding company, allowing it to apply for a portion of the $700 billion bailout fund and get emergency loans directly from the Fed.