GMAC gets Fed's OK to become bank holding company (Reuters) E-mail
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Thursday, 25 December 2008 19:26

A view of a five-bedroom and two-bath home with a GMAC real estate sign in Detroit, Michigan September 23, 2007. (Rebecca Cook/Reuters)Reuters - GMAC LLC won U.S. approval on Wednesday to become a bank holding company, giving it access to government lending programs and helping it stave off bankruptcy.



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