2008-12-29 — housingwire.com
"GMAC Financial Services announced the day before Christmas that its application to become a bank holding company had been approved by the Federal Reserve. GMAC Bank also said it had received approval from the Utah Department of Financial Institutions to convert to a state bank. “As a bank holding company, GMAC will have expanded opportunities for funding and access to capital, which will provide increased flexibility and stability,” the company said in a press release."
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