The article reports that GMAC LLC has launched an online bank called Ally Bank. GMAC chief executive Al de Molina asserted that Ally would offer competitive rates on money market and savings accounts, while noting that t...
THISPURCHASE AND ASSUMPTION AGREEMENT, dated as of November 20, 2006 (this “Agreement”), is entered into by and between GMAC Bank, a federal savings bank, with its principal place of business in Horsham, Pennsylvania (“Seller”) and GMAC Automotive Bank, an industrial bank with its princip...
Personal income was flat last month after rising 0.1% in August, also as expected. Savings increased to an annual rate of $355.6 billion, lifting the saving rate to 3.3 percent from 2.8 percent in August - and some of that will go into stocks and bonds, right? Later we have the Chicago...
and an additional $18 billion in loans and leases to GM dealers.To finance these loans, it borrows most of the money it needs from other big companies and investors in the commercial paper market, and it also sells its i.o.u.'s to individuals in denominations ranging upward from $25,00...