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Home » GM Financial looks to form industrial bank — again 

GM Financial looks to form industrial bank — again 

Captive withdrew its original IC application in June 

Amanda HarrisbyAmanda Harris
February 6, 2025
in Capital & Funding
Reading Time: 5 mins read
0
The General Motors world headquarters building is shown September 17, 2015 in Detroit, Michigan. Mary Barra, Chief Executive Officer of General Motors, and Mark Reuss, President of GM North America, held an Employee Town Hall Meeting and a question & answer session with the news media today to discuss GM's $900 million settlement with the Justice Department over GM's ignition switch recalls.

The General Motors world headquarters building is shown September 17, 2015 in Detroit, Michigan. Mary Barra, Chief Executive Officer of General Motors, and Mark Reuss, President of GM North America, held an Employee Town Hall Meeting and a question & answer session with the news media today to discuss GM's $900 million settlement with the Justice Department over GM's ignition switch recalls.

GM Financial, the captive finance arm of General Motors, has reinvigorated its efforts to form a bank with the goal of expanding finance options for consumers.  The lender submitted an industrial bank charter application to the Federal Deposit Insurance Corp. (FDIC) and Utah Department of Financial Institutions (UDFI) on Jan. 31 to form GM Financial […]

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