GMAC announces plans to expand lending
GMAC, the ailing auto finance giant, announced plans on Dec. 30 to expand lending for vehicles to a wider spectrum of customers a day after getting a $6 billion US government bailout.
GMAC Financial Services said on Monday that following General Motors Corp.'s filing to reorganize under Chapter 11 of federal bankruptcy law, it would continue to provide automotive financing to GM and Chrysler dealers and customers.