Ford and GM win approval to launch new car loan banks

Ford and GM win approval to launch new car loan banks

Car loans for customers shopping at Ford and General Motors dealerships may be easier to get from new banks that the automakers have won clearance to create.

Ford and GM Get FDIC Approval to Launch Industrial Banks

General Motors and Ford Motor have received FDIC approval to launch U.S. industrial banks based in Salt Lake City. // Stock photo General Motors Co. in Detroit and Ford Motor Co. in Dearborn have received Federal Deposit Insurance Corp. (FDIC) and the Utah Department of Financial Institutions approval to launch U.S. industrial banks in Salt Lake City. The approvals allow the captive finance units to take FDIC-insured deposits, giving them access…