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.
GM's history included GMAC financing arm which took a beating during the 2008 Wall Street crash. GM still needs to focus on quality control and sure when someone drops $60,000 on a Tahoe or Escalade is does not fall apart or parts wear-out. GM
Bank of E Musk next ? $tsla
JStein_WaPo This is def bad news....like we need more private debt & playing with depositer money.
JStein_WaPo commercial loans aren't regulated. anyone can do them without a license. due to the regulations, most insurance companies scuttled their banks. I bet GM will drop its plans after the realize the Dodd frank rules are a mess.
95% only bad news(
REPORT: Biden’s Thanksgiving Day Address gets just 1000 views online, a record low. Observers say a candidate with “80,000,000” votes would get many more online viewers. Numbers don’t lie, or add up!
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