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GM Plans to Seek Banking Charter to Grow Auto-Lending Business

GM Plans to Seek Banking Charter to Grow Auto-Lending Business

General Motors Co. is looking to get back in the banking business. The auto maker’s lending arm is drawing up plans to apply for a banking charter, a

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General Motors Co. is looking to get back in the banking business.

The auto maker’s lending arm is drawing up plans to apply for a banking charter, a move that would allow it to accept deposits and expand its auto-finance business, according to people familiar with the matter.

General Motors Financial Company Inc. has been talking to federal…

This post first appeared on wsj.com

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