Fed OKs GMAC to keep lending to GM dealers-sources

WASHINGTON (Reuters) - The Federal Reserve on Thursday extended an exemption to allow bank holding company GMAC to continue to lend to General Motors' dealers and GM retail customers, sources familiar with the decision said.

The exemption waives restrictions normally imposed on banks and their nonbank affiliates. GMAC became a bank holding company in December.

(Reporting by Tim Ahmann; editing by Gary Crosse)