TITLE

GMAC Cuts Disclosures at Its Home-Loan Albatross

AUTHOR(S)
Berry, Kate
PUB. DATE
November 2009
SOURCE
American Banker;11/5/2009, Vol. 174 Issue 201, p1
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article discusses a quarterly report from GMAC Inc. Chief executive Robert Hull said his firm would stop providing quarterly and annual reports for Residential Capital LLC, which disclosed a pretax loss of $747 million. GMAC's Ally Bank saw deposits grow by 58% for the quarter. GMAC as a whole recorded a quarterly loss of $747 million.
ACCESSION #
45036723

 

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