WASHINGTON - General Motors Corp. won government approval Thursday to charter a thrift, giving the automotive giant authority to broaden the range of financial services offered by its GMAC Mortgage Corp subsidiary.

GMAC Mortgage will be an operating subsidiary of the thrift, GMAC Bank, and would instantly be one of the country's largest originators and servicers of residential mortgages and home equity loans, the Office of Thrift Supervision said.

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