GMAC Financial Services confirms its intent to seek status as a bank-holding company. General Motors Corp.’s former captive-finance arm says it is in talks with federal regulatory officials in a bid to “obtain increased flexibility and stability” as a lender, and to expand its access to capital. “GMAC intends to commence a private offer to exchange a significant amount of its outstanding indebtedness for a reduced principal amount of new indebtedness,” the finance company says in a ...
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