E-NEWSLETTER

GMAC Financial Services has completed the sale of its U.S. consumer property and casualty insurance business, GMAC Insurance Personal Lines, to American Capital Acquisition Corporation (ACAC). The sale includes GMAC's U.S automobile, commercial vehicle, motorcycle and recreational vehicle insurance offerings.

Tags: GMAC Financial Services, GMAC Insurance Personal Lines

Haunted by losses from its mortgage operation, GMAC Financial Services posted a $5 billion loss for the last three months of 2009. The news, however, was much brighter for the finance company’s auto operations.

Tags: Chrysler Dealers, GMAC Financial Services, GMAC originations

GMAC Financial Services issued an update Friday on its efforts to provide nearly 1,500 Chrysler dealers with wholesale financing.

Tags: Chrysler Financial, GMAC Financial Services, wholesale financing

GMAC Financial Services announced a series of actions intended to strengthen the company's capital base, position it for improved financial performance, minimize further adverse effects on GMAC related to Residential Capital LLC (ResCap), and improve access to the capital markets over time.

Tags: Ally Bank, Department of Treasury, GMAC Financial Services, ResCap LLC

According to a recent report by the National Taxpayers Union, American taxpayers have paid $12,200 for every General Motors vehicle sold through the beginning of 2011, and $7,600 for every Chrysler vehicle sold.

Tags: Chrysler, General Motors, GMAC Financial Services, Treasury Department

A federal jury sided with a Pennsylvania dealer in November when it awarded him $4 million in damages in a lawsuit against GMAC Financial Services, according to the Reading Eagle.

Tags: GMAC Financial Services

Shortly after word spread of Alvaro de Molina’s abrupt departure on Monday, GMAC Financial Services announced that its board of directors selected Michael Carpenter as his successor.

Tags: GMAC Financial Services

Chrysler Group officials made it clear last Wednesday that securing the financing needs of its dealers will be key to realizing its $500 million, five-year plan. GMAC responded the following day by saying that it’s quickly ramping up efforts to becoming the preferred financing source of Chrysler dealers and customers.

Tags: Chrysler, GMAC Financial Services

U.S. Congresswoman Candice Miller (R-Mich.) and National Automobile Dealers Association (NADA) chairman John McEleney have undertaken separate campaigns to extend a program designed to provide floorplanning credit to Chrysler dealerships.

Tags: Chrysler, FLOORPLAN FINANCING, GMAC Financial Services, NADA

GMAC Financial Services reported a third quarter 2009 net loss of $767 million, an improvement from the net loss of $2.5 billion in the year-ago period.

Tags: 30-day delinquencies, Cash for Clunkers program, credit losses, GMAC Financial Services, originations

An insider confirmed on Wednesday reports that GMAC Financial Services Inc. is in discussions with the U.S. Treasury Department for a third-round of taxpayer-backed funding – one of two moves the auto finance company made this week to shore up its capital position ahead of an impending regulatory deadline.

Tags: Chrysler, FDIC, GMAC Financial Services, Treasury Department

Chrysler Financial, the former captive lender of Chrysler LLC, will liquidate and cease business in Dec. 31, 2011, according to a letter from the U.S. Treasury Department.

Tags: Chrysler, Chrysler Financial, GMAC Financial Services

Starting Thursday, Oct. 1, GMAC Financial Services will begin rewarding loyal General Motors and Chrysler dealers with cash, remarketing services and other perks.

Tags: Ally Bank, Chrysler, General Motors, GMAC Financial Services

Chrysler Group LLC announced it will offer a leasing option for customers on all 2010 model year Chrysler, Jeep and Dodge vehicles through Chrysler’s preferred lender, GMAC Financial Services.

Tags: Chrysler Group, GMAC Financial Services, leasing

Recovery Compliance Solutions, a provider of repossession compliance monitoring solutions, partnered with GMAC Financial Services to manage and verify its repossession vendors’ information, ensuring they remain compliant with state and local standards.

Tags: Compliance, GMAC Financial Services

Chrysler Group LLC introduced “Double CA$H for Your Old Car,” a new incentive program that offers consumers up to $4,500 cash or 0 percent financing for 72 months through GMAC Financial Services.

Tags: Car Allowance Rebate System, Cash for Clunkers program, Chrysler, GMAC Financial Services

The launch of a new and independent General Motors will not impact the automaker’s relationship with GMAC Financial Services, the bank holding company said after Sunday’s approved sale of GM’s assets to a U.S Treasury-sponsored entity.

Tags: General Motors, GMAC Financial Services

Responding to reports that it suspended wholesale financing for some of the roughly 2,400 surviving Chrysler dealers, GMAC Financial Services said on Friday that it is “working aggressively” to support the Chrysler dealer body at large.

Tags: Chrysler, FDIC, GMAC Financial Services

GMAC Financial Services announced last Friday that it has priced an offering for $4.5 billion of debt guaranteed by the Federal Deposit Insurance Corporation (FDIC), pursuant to the FDIC Temporary Liquidity Guarantee Program (TLGP).

Tags: FDIC, GMAC Financial Services, SEC

Chrysler LLC launched last Tuesday incentives for buyers of new Dodge, Chrysler and Jeep vehicles through its new lender, GMAC Financial Services.

Tags: Chrysler, GMAC Financial Services, manufacturer incentives

On the heels of General Motor’s Chapter 11 bankruptcy filing on Monday, GMAC Financial Services issued a statement saying it is taking the appropriate steps to protect its interests during the troubled automaker’s restructuring.

Tags: Chrysler, Chrysler Financial, General Motors, GMAC Financial Services

As a result of General Motors LLC (GM) bankruptcy filing Monday with the U.S. Bankruptcy Court, DBRS has conducted an analysis of all DBRS-rated outstanding retail auto loan, lease and wholesale ABS transactions originated by GMAC LLC.

Tags: General Motors, GMAC Financial Services

GMAC Financial Services is a creditor of General Motors Corp. (GM) and as such is taking the appropriate steps to protect GMAC's interests during GM's restructuring.

Tags: General Motors, GMAC Financial Services

GMAC Financial Services announced last Tuesday that Michael A. Carpenter, Mayree C. Clark and Franklin (Fritz) W. Hobbs were named as independent directors to GMAC's board of directors, effective immediately.

Tags: GMAC Financial Services

Close to 90 percent of Chrysler LLC’s U.S. dealers are ready to conduct business through GMAC Financial Services, according to Chrysler Group vice chairman and president Jim Press.

Tags: Chrysler, GMAC Financial Services