mchlfnd wrote:If GM goes bankrupt, will it affect GMAC Bank's solvency?
...GMAC bank customers do not have to worry about the hassle of the parent company defaulting. While the parent company was not a bank holding company, GMAC bank was and still is a bank and deposits were fully covered by FDIC insurance. The change in status of the parent company means extra stability for the bank and its depositors.
andrewj wrote:Any updated thoughts on how people feel about this, given more recent concerns about GM's viability? Suppose GM does file for bankruptcy and/or gets liquidated, would that affect what goes on at GMAC? And what about this holding company business (not sure if I completely understand what that means). Just wondering, before I decide to open a CD there.
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