General Motors' Electronic Data Systems Corp. has taken a minority stake in the nation's largest independent consumer-loan servicer, CLS Corp.
Under terms of an agreement signed late last month, the two companies will jointly market CLS loan services to U.S. financial institutions.
According to CLS officials, the sales efforts will focus largely on the roughly 8,000 banks and thrifts that do not lend to consumers but might consider it with processing support.
CLS, based in Blue Bell, Pa., offers services such as application processing, credit approval, payment processing, collection, and customer-service operations.
