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ally financial

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    Report: Ally to pay $98M to settle ethnicity-based discriminatory lending practice probe
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    Ally Financial has agreed to pay a $98-million fine to settle an investigation into unfair lending practices overseen by the Justice Department and the Consumer Financial Protection Bureau (CFPB). In an investigation of lending practices in the year after April 2011, the government agencies ...

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    Official: GM to divest 7% stake in PSA Peugeot Citroën, sells equity in Ally Financial
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    In terms of being a major newsmaker, the last seven days have probably been the biggest for General Motors since its 2009 bankruptcy. Aside from announcing that Mary Barra will be succeeding Dan Akerson as its CEO next year, the automaker also appears to be streamlining its global operations by ...

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    Report: US Treasury denies pay hikes for GM, Ally execs
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    In December, the US Treasury granted General Motors the rights for the company to once again buy corporate jets and for its executives to fly on them, but neither those execs nor the ones at Ally Financial will get any raises this year. The automaker, worried that top talent might leave for ...

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    Report: Watchdog says White House needs exit strategy for GM, Ally
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    Christy Romero, a special inspector general examining the corporate bailouts that came in the wake of 2008's financial crisis, has some advice for the U.S. government: "Treasury should develop a concrete exit plan for GM and Ally." She is referring, of course, to the 30-percent stake that the ...

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    Report: Treasury suggests GM buy back troubled Ally Financial
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    Back when Ally Financial was known as GMAC Financial, the U.S. Treasury gave it $17.2 billion in TARP funds to weather the global economic crisis. GMAC is now Ally Financial, and although it has repaid $5.4 billion of what it was loaned, there doesn't seem to be a clear path for repaying the ...

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    Report: Chrysler launches "No Payment for 90 Days" program
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    If you've been sitting on the sidelines waiting to pick up a new Chrysler product, now may be the time to stand up and bring your wallet down to the nearest dealership. Chrysler has fired up a new incentive program that will leave a bit of money in your bank account for the first three months of ...

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    Report: Ally Financial files IPO paperwork
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    Ally Financial, formerly GMAC Financial, has filed the paperwork necessary for an Initial Public Offering. The Detroit News reports that the filing will go to the Securities and Exchange Commission for approval before Ally can go public; a process that could take months. The federal government, ...

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    Ford's Big Goal in 2011: Get out of junk status, lower loan rates
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    2010 was a banner year for Ford Motor Company. Market share and profits were as good as they've been in years, and there is genuine buzz surrounding the Blue Oval's cars and trucks. Heck, even Ford's stock has been a monumental success. But not all that glitters is gold, as Ford is still mired in ...

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    GMAC changing name to Ally in North America
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    Come August 23, GMAC's auto lending business will be brought under the Ally Financial banner. While GMAC had already rebranded its other financial divisions, the auto business still went by GMAC. The move continues GMAC's distancing itself from its General Motors mothership, and if we read more ...

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    GM seeking more subprime buyers?
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    In a word, yes. The Detroit News reports that General Motors is looking to find a way to tap into the subprime lending market that accounts for 16 percent of the overall car-buying market. There is, after all, plenty of pressure to sell more vehicles to enhance the company's value leading up to ...

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