Ally

Report faults Treasury on 'excessive' post-bailout pay at GM, Ally

12:13 pm U.S. ET | Sept. 24, 2014
Top executives at General Motors and Ally Financial received excessive compensation after receiving bailout funds from the U.S. Treasury in 2009, according to a Treasury special inspector general report released today....
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U.S. Treasury to cut Ally stake

10:56 am U.S. ET | Aug. 14, 2014
The Treasury Department plans to cut its stake in Ally Financial by selling stock on the open market in its first divestiture since the company's initial public offering in April....
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Credit union backs off ads blasting dealer reserve

12:01 am U.S. ET | July 21, 2014
A Florida credit union has backed off from an advertising and social medial campaign called “Expose the Truth,” which described dealer reserve as an unfair trade practice most consumers don’t know about....
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JIM HENRY

Ally moves closer to independence, cheaper money

12:01 am U.S. ET | June 25, 2014
Ally Financial will move one step closer toward independence from government ownership next month when two of its three remaining board members nominated by the U.S. Treasury step down from the board....
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JIM HENRY

Dealer reserve to come under fire in D.C.

12:01 am U.S. ET | May 21, 2014
The Center for Responsible Lending and other advocacy groups are hosting a briefing on Capitol Hill to address what the groups call “auto lending abuses,” the chief one being dealer reserve, also known as dealer markup....
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JIM HENRY

Chrysler Capital takes toll on Ally

12:01 am U.S. ET | May 14, 2014
Santander Consumer USA and Ally Financial passed each other coming and going in the first quarter in terms of business with Chrysler Group, but don’t expect them to exchange a friendly wave....
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Ally Financial CEO Carpenter won't get pay hike, U.S. Treasury says

7:41 pm U.S. ET | April 2, 2014
The Obama administration is holding the total compensation unchanged this year for the head of bailed-out auto lender Ally Financial, the Treasury Department said on Wednesday....
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JAMES B. TREECE

What's on dealers' minds -- and what's not

1:20 pm U.S. ET | March 28, 2014
A small group of Florida dealers gathered last week at a Fort Lauderdale hotel to share best practices. What was unsaid intrigued me....
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Ally Financial IPO could generate $2.7 billion for U.S. Treasury

9:00 am U.S. ET | March 27, 2014
Ally Financial, the former GMAC auto lender rescued by the federal government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering....
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JIM HENRY

Ally takes step toward 'free at last' with IPO

12:01 am U.S. ET | March 27, 2014
It's been a long time coming, but Ally Financial finally filed for its initial public stock offering today -- another step in a long process toward becoming a truly independent company....
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New panel to oversee tech shift for auctions

12:01 am U.S. ET | March 17, 2014
The auto auction industry is moving closer to a major change as rival auctions are looking into listing used vehicles for sale simultaneously on competitors' online remarketing platforms....
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Ally names Jeffrey Brown to replace Muir as CEO of dealer financial unit

5:01 pm U.S. ET | March 13, 2014
Ally Financial has appointed Jeffrey Brown as CEO of Ally Dealer Financial Services, succeeding the veteran Bill Muir, who will retire later this year....
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Ally says Q4 net income falls, GM relationship extended

12:35 pm U.S. ET | Feb. 6, 2014
Ally Financial said today it has posted fourth-quarter net income of $104 million and lower pretax income for its auto finance business. The lender also said its preferred-lender relationship with General Motors, set to expire Dec. 31, was extended while the companies negotiate a new pact....
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Ally, CFPB poles apart on discrimination breadth, evidence

12:01 am U.S. ET | Feb. 3, 2014
Ally Financial and the Consumer Financial Protection Bureau are miles apart on core issues, such as how to measure discrimination and how widespread it is, says Ally CEO Michael Carpenter....
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JIM HENRY

For Ally, a sting but no big bite

12:01 am U.S. ET | Jan. 15, 2014
Ally Financial’s $98 million consent order with the Consumer Financial Protection Bureau and U.S. Justice Department in December had to sting. But the payment is likely to amount to less than three months’ worth of the company’s 2013 earnings....
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JIM HENRY

Ally, more independent, can better focus on dealers

12:01 am U.S. ET | Dec. 26, 2013
It's time to stop thinking of Ally Financial as GM's captive finance company and get used to the fact that it's an independent bank....
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Ally wins U.S. approval to alter holding structure to keep insurance, vehicle-auction site

11:49 am U.S. ET | Dec. 23, 2013
Ally Financial won regulatory approval to change its holding-company status, allowing the firm to keep an insurance business and a vehicle-auction Web site. Ally, majority owned by the U.S. government, warned in July that regulators might not allow the shift as an exemption ends this month, potentially imposing a “material adverse” effect on earnings....
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Ally, U.S. reach $98M settlement over lending bias

10:05 am U.S. ET | Dec. 20, 2013
Auto lender Ally Financial has agreed to pay $98 million to resolve claims that its manner of paying dealers for arranging contracts led minority car buyers into car loans with higher interest rates. The settlement provides a clear sign of the Consumer Financial Protection Bureau's determination to police the auto lending market....
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General Motors said to plan sale of stake in Ally, report says

1:28 pm U.S. ET | Dec. 4, 2013
GM is planning to sell its stake in Ally Financial, the auto lender majority owned by American taxpayers, a person with knowledge of the transaction told Bloomberg. Selling now would allow GM to avoid a months-long lockup tied to Ally’s initial public offering, according to the person, who asked to remain anonymous because the deal isn’t public....
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JIM HENRY

For industry, more alarms from CFPB

12:01 am U.S. ET | Nov. 13, 2013
The auto finance industry had better start worrying about the Consumer Financial Protection Bureau a lot more than it is. At a Senate Banking Committee hearing on Tuesday, CFPB Director Richard Cordray made it sound as if dealers routinely double or triple the consumer's buy rate...
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JIM HENRY

CFPB's roster of lender probes grows

12:01 am U.S. ET | Nov. 6, 2013
Ally Financial is just the latest auto lender to acknowledge the Consumer Financial Protection Bureau is investigating it with an eye toward enforcing the CFPB's interpretation of anti-discrimination laws....
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EDITORIAL

A better marketplace

12:01 am U.S. ET | Nov. 4, 2013
Auto auctions are rapidly evolving, and new technology is fundamentally reshaping the used-vehicle marketplace....
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Racing, tech events draw crowds to Hoffman stores

Racing, tech events draw crowds to Hoffman stores

Hoffman Auto Group holds more than 100 elaborate events annually to attract and retain customers. Some buyers zip around a racetrack in Porsches at 130 mph. Mon., October 27
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