(AP) -- The government is close to providing auto lender GMAC with billions of dollars in fresh aid, according to people with familiar with the matter.
The cash infusion is intended to help the company continue to make loans for General Motors Corp. and Chrysler LLC vehicles. The people spoke on condition of anonymity because they were not authorized to speak before a formal announcement by the Treasury Department.
The move would come after GMAC failed a bank "stress test" earlier this month, with the Treasury mandating the company raise $11.5 billion within six months.
GMAC received $5 billion from the government's $700 billion financial bailout program in December.
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