Two of the largest car makers in the United States have taken a step forward to launching their own banks. (Getty Images)Under the conditional approvals, issued January 22, Ford and GM have 12 months to get their banks up and running. Ford Credit Bank and GM Financial Bank will each be chartered as an industrial bank in Utah and permitted to accept FDIC‑insured deposits and offer auto financing products nationwide. Ford Credit Bank and GM Financial Bank will help people finance cars nationwide by buying loans from Ford and GM dealers. The FDIC approved the banks, but they must meet certain rules, including keeping enough capital on hand, with Ford and GM backing the bank’s finances.