Huh? Who would be starting up a new bank in our current lousy economic environment? A few keystrokes later, I found out.
GMAC.
Ain’t “rebranding” a hoot? GM’s name is Mudd these days, so by all means, get rid of it! Especially when you need to fill an $11.5 billion capital hole with new retail deposits.
Details here, if you need ’em. Me and my money will be staying as far away as possible from anything GM-related.
P.S. Frankly, both the name and the purple color remind me of a new drug more than a new bank.
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