press releases · December 23, 2008

Press Release

December 24, 2008 Approval of proposal by GMAC and IB Finance to become bank holding companies For immediate release Share The Federal Reserve Board on Wednesday announced its approval of the application and notices under sections 3 and 4 of the Bank Holding Company Act by GMAC LLC and IB Finance Holding Company, LLC, both of Detroit, Michigan, to become bank holding companies on conversion of GMAC Bank, a Utah industrial loan company, to a commercial bank and to retain certain nonbanking subsidiaries. Attached is the Order relating to this action. Attachment

Cite this document

APA

Federal Reserve (2008, December 23). Press Release. Press Releases, Federal Reserve. https://whenthefedspeaks.com/doc/press_release_20081224_approval_of_proposal_by_gmac_and_ib_finance_to

BibTeX

@misc{wtfs_press_release_20081224_approval_of_proposal_by_gmac_and_ib_finance_to,
  author = {Federal Reserve},
  title = {Press Release},
  year = {2008},
  month = {Dec},
  howpublished = {Press Releases, Federal Reserve},
  url = {https://whenthefedspeaks.com/doc/press_release_20081224_approval_of_proposal_by_gmac_and_ib_finance_to},
  note = {Retrieved via When the Fed Speaks corpus}
}