GMAC Said to Hire Citigroup, Goldman Sachs for TARP Repayment

GMAC Inc. hired Citigroup Inc., another bank controlled by the U.S. government, to explore how to repay bailout funds, according to a person briefed on the matter.

Goldman Sachs Group Inc. will also help the auto lender examine repayment strategies and both banks will assist GMAC in reviewing options for its money-losing mortgage unit, ...