Ally Financial
Ally Financial logs $1.1 billion in net profit for Q1 2013
Ally Financial Inc., posted a huge jump in its net profit for the first quarter of 2013 to $1.1 billion from $310 million in the same period in 2012. Interestingly, the auto lender posted... Read more about Ally Financial logs $1.1 billion in net profit for Q1 2013
Ally completes sale of its units in Europe, Latin America to GM Financial
Ally Financial Inc. said that around $2.6 billion has been paid to General Motors Financial Co. in completion of the sale of majority of its operations in Europe and Latin America. In a... Read more about Ally completes sale of its units in Europe, Latin America to GM Financial
Ally Financial launches US program to help dealers get more customers
Ally Financial has launched a program around the United States to help dealers attract more customers to their showrooms. Andrea Riley, Ally's chief marketing officer for global... Read more about Ally Financial launches US program to help dealers get more customers
SIGTARP says Treasury needs concrete plan to unwind Ally’s bailout
The US Treasury Department has to have a "concrete plan" to unwind the 2009 financial rescue of Ally Financial Inc., according to a report by Christy Romero, the Special Inspector General... Read more about SIGTARP says Treasury needs concrete plan to unwind Ally’s bailout
US Treasury failed to limit excessive pay at bailed-out companies
The United States Treasury Department "failed to rein in excessive pay" at three bailed-out companies -- General Motors, Ally Financial Inc., and American International Group Inc., --... Read more about US Treasury failed to limit excessive pay at bailed-out companies
General Motors agrees to acquire rest of Ally Financial for $4.2 billion
General Motors has reached an agreement to acquire the remaining assets of Ally Financial Inc.'s international auto-finance businesses for $4.2 billion, as it aims to stimulate recovery... Read more about General Motors agrees to acquire rest of Ally Financial for $4.2 billion
Royal Bank of Canada enters deal to buy Canadian arm of Ally Financial
Royal Bank of Canada has entered a $4.1 billion deal to purchase the Canadian auto finance and deposit arm of Ally Financial Inc. Royal Bank of Canada hopes to make its vehicle-lending... Read more about Royal Bank of Canada enters deal to buy Canadian arm of Ally Financial
GM preparing to bid for Ally’s lending units in Europe, Latin America
General Motors Co. is getting ready this week to make an offer to acquire Ally Financial Inc.'s auto-lending units in Europe and Latin America, three people privy to the matter told... Read more about GM preparing to bid for Ally’s lending units in Europe, Latin America
US Treasury names Henry Miller, Gerald Greenwald to Ally’s board
The US Treasury Department has appointed Henry Miller and Gerald Greenwald as new members of the board of directors of Ally Financial Inc. With Miller and Greenwald on the board, the US... Read more about US Treasury names Henry Miller, Gerald Greenwald to Ally’s board
General Motors bids to acquire Ally Financial’s international operations
General Motors is offering to acquire the international operations of Ally Financial Inc., barely two months after GM chief executive expressed his intention to acquire the business.... Read more about General Motors bids to acquire Ally Financial’s international operations
Warren Buffett sought to buy Residential Capital from Ally Financial before bankruptcy
Before Residential Capital entered bankruptcy, billionaire Warren Buffett had wanted to buy it from Ally Financial Inc., according to three sources. They said that Buffett had assigned... Read more about Warren Buffett sought to buy Residential Capital from Ally Financial before bankruptcy
Ally CEO says splitting from ResCap mortgage unit offers many benefits
In an interview with Automotive News, Ally Financial CEO Michael Carpenter revealed that breaking free from its troubled ResCap mortgage subsidiary once and for all is beneficial for the... Read more about Ally CEO says splitting from ResCap mortgage unit offers many benefits
Ally Financial’s ResCap files for bankruptcy with at least $1 billion in both assets, debts
Mortgage company Residential Capital LLC has filed a Chapter 11 petition today in U.S. Bankruptcy Court in Manhattan, listing at least $1 billion each in liabilities and assets. The... Read more about Ally Financial’s ResCap files for bankruptcy with at least $1 billion in both assets, debts
U.S. Treasury Department prefers a breakup and sale of the lender Ally Financial
The U.S. Treasury said that it prefers a breakup and sale of the lender Ally Financial Inc. The U.S. Treasury has given $17.2 billion to the company. This strategy includes selling back... Read more about U.S. Treasury Department prefers a breakup and sale of the lender Ally Financial
Ally Financial reported a net loss of $210 million in the third quarter
In the third quarter, Ally Financial Inc.'s core automotive franchise recorded a hefty volume growth; however, its pre-tax income was flat on the automotive side. Ally said that these... Read more about Ally Financial reported a net loss of $210 million in the third quarter
Ally Financial launches Ally Buyer’s Choice
Ally Financial is unveiling a new kind of loan -- an auto loan that comes with an option for the client to sell the vehicle, 48 months into the loan, to the company at a guaranteed price.... Read more about Ally Financial launches Ally Buyer’s Choice
Ally Financial posted an 80 percent drop in the second-quarter profit
Ally Financial Inc. reported a net income of $113 million for the second quarter of 2011, an 80 percent drop from the $565 million that the company achieved in the same period last year.... Read more about Ally Financial posted an 80 percent drop in the second-quarter profit
Ally Financial to offer dealers 5 percent of the common shares as part of IPO
Ally Financial Inc. submitted a filing with the U.S. Securities and Exchange Commission where it confirmed plans to offer as high as 5% of the common shares to auto dealers issued as part... Read more about Ally Financial to offer dealers 5 percent of the common shares as part of IPO
Ally Financial reports 9.9% profit drop in first quarter 2011
As the income of Ally Financial Inc. decreased at two of its core units, it reported a 9.9% drop in its profit in the first quarter. In a statement, the auto and home lender that’s... Read more about Ally Financial reports 9.9% profit drop in first quarter 2011
Ally Financial plans to sell shares to the public late in the second quarter
According to two insiders, Ally Financial Inc., which is the automobile and home lender predominantly owned by the U.S. government, has plans to sell shares to the public late in the... Read more about Ally Financial plans to sell shares to the public late in the second quarter
GM Financial to expand into markets and compete against Ally Financial
Plans are in place for GM Financial (General Motors Co.'s auto lending branch) to expand into markets that may put it in direct competition with Ally Financial Inc. GM owned Ally,... Read more about GM Financial to expand into markets and compete against Ally Financial
General Motors is considering buying back part of Ally Financial
Sources told the Wall Street Journal that General Motors Co. is thinking about buying back part of Ally Financial, its former GMAC auto loan business. According to people who claimed to... Read more about General Motors is considering buying back part of Ally Financial
US government converts preffered stock of Ally Financial into common shares
As the U.S. government converted $5.5 billion of preferred stock into common shares, Ally Financial Inc. is inching closer to reclaiming its independence. Ally is formerly the lending... Read more about US government converts preffered stock of Ally Financial into common shares
Ally Financial reported a third straight quarterly profit
For the third consecutive quarter, Ally Financial Inc. has reported a profit as consumers and dealers financed a higher number of US car and truck purchases. Ally Financial Inc. is the... Read more about Ally Financial reported a third straight quarterly profit
Ally Financial is the preferred lender for Fiat vehicles sold in the U.S.
Through a press release, Chrysler Group confirmed that its preferred consumer lender for Fiat vehicles sold in the US is Ally Financial. Its dealerships have been told that Ally, formerly... Read more about Ally Financial is the preferred lender for Fiat vehicles sold in the U.S.
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