FDIC approves deposit insurance for Ford and GM banks, clearing the way for industrial banks focused on auto financing and ...
Car loans for Ford and GM models may be easier to get from new banks that the automakers are now cleared to establish.
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Ford and GM are opening their own banks: What it means for your next car loan
Ford and GM have received FDIC approval to create their own banks in Utah, a move that will reshape auto financing for millions of car buyers.
FDIC approves Ford Credit Bank and GM Financial Bank deposit insurance for Utah industrial banks funding auto loans via savings accounts.
Industrial banks allow the companies to accept deposits insured by the Federal Deposit Insurance Corp. into savings accounts.
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