AMSTERDAM - Dutch market regulator AFM has fined GMAC Nederland NV, the local unit of bailed-out U.S. auto and home lender GMAC Financial Services, for not meeting rules on tighter standards for consumer credit and lending.

The AFM said in a statement on Wednesday that GMAC Nederland, in the period from July 1, 2008, to Feb. 26 this year, did not sufficiently focus on preventing excessive indebtedness when reviewing applications for credit.

Such overkreditering, as it is known in Dutch, has led to fines against other local financial institutions since this summer. Like the GMAC fine of 24,000 euros, they were also relatively small.

New, tighter rules came into effect last year and the AFM said GMAC Nederland did not align its lending criteria with the new rules in time.

The fine can be appealed against. A spokeswoman for GMAC Nederland was not immediately available to comment.

Money-losing GMAC has already received $12.5 billion in bailouts from the U.S. government and is in line for more.

GMAC's owners include auto maker General Motors and private equity firm Cerberus Capital. (Reporting by Ben Berkowitz, editing by Will Waterman)

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