Ally

Ally clears barrier for IPO with plan to resolve mortgage claims

1:59 pm U.S. ET | May 14, 2013
Ally Financial moved closer to repaying its government bailout as the auto lender reached agreement with creditors of its bankrupt mortgage unit.... Read More »

 

Opel will offer cheaper loans after taking finance in-house

May 6, 2013 14:33 CET
Opel expects to boost the proportion of cars sold on financing with the offer of cheaper loans and leasing deals now that it has taken its German banking license back in-house.... Read More »

 

JIM HENRY

GM, Chrysler take opposite tacks on captives

12:01 am U.S. ET | May 1, 2013
Does a car company need to own a captive finance company? While GM and Chrysler Group came off similar experiences of being partners with Ally Financial after their old captives went away during restructuring, they have reached different conclusions.... Read More »

 

Ally Q1 profits boosted by auto finance business, one-time gains

9:52 am U.S. ET | May 1, 2013
Ally Financial said its first-quarter net income more than doubled from a year ago to $1.1 billion, driven largely by a one-time gain from the sale of Ally’s Canadian operations and higher profits in its auto finance business.... Read More »

 

GM's Akerson, Ally's Carpenter have pay, bonuses frozen by U.S.

9:22 am U.S. ET | April 27, 2013
The Treasury Department froze some 2013 pay for top executives at General Motors and Ally Financial, two companies yet to repay money received under special bailout terms during the financial crisis.... Read More »

 

JIM HENRY

Why car loans, mortgages are apples and oranges

12:01 am U.S. ET | April 24, 2013
Using questionable logic, the Consumer Financial Protection Bureau tends to equate mortgage brokers and auto dealers.... Read More »

 

JIM HENRY

Who's the No. 1 lender? Gimme an A …

12:01 am U.S. ET | April 17, 2013
Who's No. 1 in auto finance? It depends on who's doing the telling.... Read More »

 

GM Financial completes $2.6B deal for Ally units in Europe, Latin America

11:14 am U.S. ET | April 2, 2013
Ally Financial said it completed the sale of most of its operations in Europe and Latin America to General Motors Financial for about $2.6 billion. Ally, in a statement today, said it will get about $2.4 billion at closing and about $190 million in dividends prior to closing from the GM unit.... Read More »

 

Ally to sell remaining mortgage servicing rights to Quicken

12:21 pm U.S. ET | March 21, 2013
Ally Financial, the former GMAC lending unit that had its capital plan rejected last week by the Federal Reserve, agreed to sell its remaining agency mortgage servicing rights to Quicken Loans Inc. for about $280 million.... Read More »

 

Ally says Federal Reserve's stress test was 'fundamentally flawed'

9:39 am U.S. ET | March 8, 2013
Ally Financial, the auto lender majority-owned by the federal government, disputed results of the Federal Reserve's stress tests, calling the analysis "fundamentally flawed." "The analysis is inconsistent with historical experience in the most-stressed periods in our business,” the lender said in a statement on Thursday.... Read More »

 

Ally says U.S. probing retail financing practices

6:52 pm U.S. ET | March 1, 2013
Ally Financial said in a securities filing that the Consumer Financial Protection Bureau has recently told the U.S. auto lender that it is being investigated for certain "retail financing practices."... Read More »

 

Treasury should curb pay for bailed out companies, watchdog says

5:06 pm U.S. ET | Feb. 26, 2013
The Treasury Department should reevaluate total compensation for employees in companies that were bailed out and apply guidelines that will curb excessive pay, said Christy Romero, the special inspector general for the Troubled Asset Relief Program.... Read More »

 

GM denies reports of proposed hike in CEO Akerson's 2013 pay

8:11 pm U.S. ET | Feb. 25, 2013
GM today strongly denied several media reports that it has requested an increase in CEO Dan Akerson's 2013 compensation. Akerson's pay last year of $11.1 million ended up being higher than the $9 million originally requested primarily because he received restricted stock units that were earned in 2011, a GM official who requested anonymity said.... Read More »

 

Executive pay at bailed-out companies subject of D.C. hearing

6:22 pm U.S. ET | Feb. 22, 2013
A congressional subcommittee plans to hold a hearing Tuesday on executive pay at companies, including General Motors and Ally Financial, that the federal government bailed out about four years ago.... Read More »

 

Ally sees full U.S. repayment by 2014 on auto business gains

10:11 am U.S. ET | Feb. 11, 2013
Ally Financial, the second-largest remaining investment by the Treasury’s federal bailout fund, will repay the government by 2014 on the strength of its auto-finance business, its CEO said.... Read More »

 

Ally claims top spot in consumer auto finance volume

12:41 pm U.S. ET | Feb. 8, 2013
Ally Financial retained its top spot in consumer auto finance volume in 2012 for the second year in a row, the company said today, citing data from Experian Automotive.... Read More »

 

Chrysler reaches deal making Santander preferred lender in U.S.

1:04 pm U.S. ET | Feb. 6, 2013
Chrysler Group agreed to make a U.S. unit of Banco Santander SA its preferred provider for auto loans, replacing Ally Financial. Chrysler and Santander Consumer USA will form Chrysler Capital to provide customers with financing to purchase and lease vehicles, the company said today in a statement. Chrysler Capital, which will begin operating May 1, will also provide dealers with wholesale loans that allow them to buy vehicles from the manufacturer.... Read More »

 

Ally posts Q4 profit as U.S. vehicle sales increase

11:41 am U.S. ET | Feb. 5, 2013
Ally Financial, the biggest auto lender in the United States, swung to a fourth-quarter profit as more consumers went shopping for cars and trucks... Read More »

 

Ally Financial needs 'concrete plan' to unwind from U.S., watchdog says

12:01 am U.S. ET | Jan. 30, 2013
The Treasury Department needs a “concrete plan” to unwind the 2009 bailout of Ally Financial, the former auto-finance arm of GM, an administration watchdog says in a new report. Taxpayers still own 74 percent of Ally, which owes $14.6 billion for the infusion of public dollars that enabled the former GMAC Inc. to avoid bankruptcy.... Read More »

 

U.S. Treasury failed to curb excess 2012 pay at GM, Ally, watchdog says

2:34 pm U.S. ET | Jan. 28, 2013
The U.S. Treasury Department "failed to rein in excessive pay" at bailed-out GM, Ally Financial and AIG, the rescue program's inspector general said. Sixteen of the 69 top employees at the three companies had 2012 pay packages worth at least $5 million and all but one had total compensation of $1 million or more, the Special Inspector General for the Troubled Asset Relief Program said in a report today.... Read More »

 

Chrysler near a deal for preferred lender

12:01 am U.S. ET | Jan. 21, 2013
Chrysler Group is close to signing a new preferred auto lender that promises to boost leasing for dealers. Chrysler-Fiat CEO Sergio Marchionne said the automaker is "in the final stretch" of negotiations with the financial services provider, which he did not name.... Read More »

 

Spanish bank nears deal to be Chrysler's financing arm, report says

Jan. 17, 2013 20:01 CET
Chrysler close to a deal that would make Spain's Banco Santander its in-house financing arm, replacing U.S.-based lender Ally Financial.... Read More »

 

Ally pays off remaining debt issued under FDIC program

11:59 am U.S. ET | Dec. 19, 2012
Ally Financial, the former General Motors finance unit now 74 percent owned by the federal government, said it has repaid its remaining debt issued under a financial-crisis-era program designed to bolster confidence in the banking system.... Read More »

 

LEGAL FILE

Ally ordered to pay dealer sanctions for lawsuit

12:01 am U.S. ET | Nov. 26, 2012
A federal judge in Pennsylvania has lambasted lawyers for Ally Financial, who "knew the utter falsity" of allegations made by Ally in its bid to collect $1.1 million from a former dealer and his closed dealerships.... Read More »

 

GM agrees to buy Ally's European auto-finance business

Nov. 21, 2012 22:59 CET
General Motors agreed to buy the rest of Ally Financial Inc.'s international auto-finance businesses, including operations in Europe, in a deal with proceeds of $4.2 billion.... Read More »