GMAC Online Banking

[WellManicuredMan]

Re: GMAC Online Banking

I just started opening an account and 2 days later it went down. Didn't they just raise it? I wonder why they lowered theirs while everyone else raised their rates.

Who knows. Glad I'm with Emigrant. Maybe GMAC thinks the Fed will pause (likely) or lower (not likely) rates on August 8th.

[jmerinka7]

Re: GMAC Online Banking

If I can open ED account at local branch, the account can be used by web?

[vsjhoc]

Re: GMAC Online Banking

I could have sworn that GM has already sold off GMAC.

They announced the deal in April. But it hasn't actually "closed" (happened) yet, and might not until next year due to regulatory issues.

http://money.cnn.com/2006/08/01/new....reut/index.htm

[risknothing]

Re: GMAC Online Banking

The fed didnt lower rates and gmac has now done it twice. What is the deal? They did not touch their MMA but instead their 3 and 6 month cds went down. Does amboy direct have cd's?

[greedy4chips]

Re: GMAC Online Banking

Mortgage rates also dropped. Banks cannot be caught on the wrong side of the rate game. Fed rate increases have slowed and thus banks have to back off the rates for the time being.

Rates lag when the fed lowers rates and are a predictor when the rates are rising...or is it the other way around?