GMAC, bailed out twice by the US government, received a third rescue package valued at $3.79bn that gives taxpayers a majority stake in the Detroit-based company.

The infusion will bolster lending at GMAC as it absorbs $3.8bn in new pretax charges and decides what to do with its loss-plagued home mortgage unit, according to statements from the agency and the company yesterday. The aid comes on top of about $13.5bn previously earmarked for GMAC, which regulators have said is crucial to the US auto industry.