GMAC adding hundreds of new jobs

RALEIGH Charlotte City Councilman John Lassiter said Friday the expansion is good news for the beleaguered bankers of the financial services hub.

The deal is expected to create more than 200 jobs in the Queen City.

The head of the city council's economic development committee said the deal does not include moving GMAC's headquarters from Detroit.

GMAC, which is an auto finance and mortgage company, currently employs about 200 people in Charlotte. It became a bank holding company in December so it could tap into the Treasury Department's $700 billion financial bailout fund.

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