General Motors just can't seem to avoid controversy in 2014. Of course, there has been a continual run of recalls throughout the year, and now, its GM Financial division is under investigation for possibly violating the Financial Institutions Reform, Recovery and Enforcement Act, according to Reuters. FIRREA gives the DoJ the power to examine and potentially sue companies that are found to be acting fraudulently. In this case, the feds want to know the division's criteria when securitizing subpr
In a move that welcomes former pieces of General Motors back into the fold, GM Financial has reached a deal with Ally Financial, formerly GMAC, to buy a piece of the company's international operations. The $4.2 billion deal is for Ally's Latin America, Europe and China operations.
General Motors is just about ready to start offering in-house financing once again. Its acquisition of AmeriCredit is complete, pending approval by AmeriCredit's shareholders. The merger is officially effective as of October 1st, 2010 and is an all-cash transaction valued at $3.5 billion.
General Motors chairman and CEO Rick Wagoner chose to fill us in on GM's turnaround progress via the company's FastLane Blog, a soapbox usually reserved for one Bob Lutz.