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NOVEMBER/DECEMBER 2005

HOME | CREDIT ARCHIVES

INDUSTRY UPDATE

AmeriCredit to Acquire Bay View Acceptance Corporation

AmeriCredit Corporation announced a definitive agreement for its operating subsidiary, AmeriCredit Financial Services, Inc., to acquire all of the outstanding capital stock of Bay View Acceptance Corporation. Bay View Acceptance Corporation acquires retail auto installment contracts from auto dealers in 32 states.

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Capital One Donates $5.1 million
to Children and Families in Richmond

Thirty five not-for-profit organizations and school systems that provide direct services for more than 15,000 at-risk youth and their families received funding from Capital One Financial in 2005. The grants provide support for childcare, education, community revitalization and financial education.

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GMAC Agrees to Sell Up to $20 Billion in U.S. Retail
Automotive Assets to Scotia Capital Over Five Years

General Motors Acceptance Corp. (GMAC), the wholly owned financial services subsidiary of General Motors Corp. and Scotia Capital, the corporate and investment banking arm of The Bank of Nova Scotia, today announced a long-term strategic financing agreement regarding GMAC's U.S. automotive retail assets.

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