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October 25, 2016 - Industry News

Ally Announces 2017 TIME Dealer of the Year Nominees

Forty-nine U.S. auto dealers have been nominated for the 2017 Time Dealer of the Year award, according to Ally Financial. For being nominated, Ally will contribute $1,000 to each dealer's charity of choice.

Tags: Ally Financial, Award, TIME

February 9, 2016 - Industry News

Ally Financial Increasing Carvana's Floorplan Credit Line

Ally Financial said this week it is increasing the online vehicle retailer's floorplan credit line from $60 million to $125 million. This will allow Carvana to finance approximately 7,100 vehicles, up from 3,400.

Tags: Ally Financial, Carvana, credit lines, Floorplan Financing

February 4, 2016 - Industry News

Ally's 2015 Originations Surpass Target Despite Loss of GM

The former captive originated $41 billion in auto loans in 2015, surpassing the high $30 billion range it projected at the beginning of the year. Much of that was due to the 53% increase in non-GM/Chrysler originations.

Tags: Ally Financial, Financial Reports, Fourth Quarter, Originations, Q4

January 4, 2016 - Industry News

Ally to Offer Leasing on Select McLaren Models

McLaren Automotive North America and Ally Financial have announced a new preferred financing relationship that will allow qualified consumers to lease the new McLaren 570S or 650S.

Tags: Ally Financial, leasing, McLaren North America, retail financing

December 10, 2015 - Industry News

Ally Gains eContracting Capabilities Through RouteOne

Ally Financial is the latest finance source to add full econtracting capabilities, including electronic contract validation, signature and distribution, through RouteOne's indirect auto finance platform.

Tags: Ally Financial, econtracting, RouteOne

October 8, 2015 - Industry News

SmartAuction Hits Five Million Sales Milestone

Five million vehicles have been sold on Ally Financial’s online auction platform, the company announced this week.

Tags: Ally Financial, Auto Auctions, SmartAuction

July 30, 2015 - Industry News

Ally Increases Used, Nonprime Originations With Loss of GM Lease Business

Ally’s second quarter originations were flat from a year ago despite the loss of General Motors’ lease business, with the company shifting its origination mix toward used and nonprime.

Tags: Ally Financial, Auto Leases, GM Financial, loan originations, nonprime

July 22, 2015 - Industry News

Ally Renews Exclusive Sponsorship of TIME Dealer of the Year

Ally Financial has renewed its exclusive sponsorship of the TIME Dealer of the Year program through 2021. Nominations for the 2016 program are now open.

Tags: Ally Financial, charity giving, NADA, NADA Convention and Expo, National Automobile Dealers Association, TIME Dealer of the Year

July 9, 2015 - Industry News

Ally to Offer APR, FICO Score and Secure Email for Auto Consumers

Starting July 19, Ally will offer customers direct access to their FICO Scores and APR within their online accounts. The finance source has also launched a secure email feature on its site to help customers send and receive account information and documentation.

Tags: Ally, Ally Financial, APR, Auto Loans, FICO Score

June 25, 2015 - Industry News

Supreme Court Upholds Disparate Impact

Source: Wikipedia

In a 5-4 vote, the Supreme Court held that disparate impact claims are cognizable under the Fair Housing Act, dashing the hopes of industry insiders who believed a ruling against the controversial legal theory would put a kibosh on the CFPB’s actions in auto lending.

Tags: Ally Financial, CFPB, Consumer Financial Protection Bureau, Disparate Impact, fair lending, Supreme Court

June 23, 2015 - Industry News

CFPB: Consumers Will Soon Receive Ally Payout

A CFPB official disclosed in a June 15 blog post that the administrator of the Ally settlement fund has begun contacting and mailing checks to borrowers who were affected by Ally’s alleged discriminatory auto lending policies.

Tags: Ally Financial, Auto Lending, Consumer Financial Protection Bureau, Department of Justice, discrimination, Disparate Impact, fair lending, Regulations, Settlement

April 27, 2015 - Industry News

Ally to Replace Mitsubishi’s Captive Finance Arm

Ally Financial and Mitsubishi Motors North America have announced that Ally will become the preferred financing source for Mitsubishi Motors in the United States, replacing the brand's captive finance company.

Tags: Ally Financial, captive finance, Mitsubishi

April 14, 2015 - Industry News

CFPB Faces Mounting Criticism, New Bipartisan Bill

On the same day The Wall Street Journal published an op-ed piece critical of the CFPB’s targeting of the indirect auto finance channel, a bipartisan bill was introduced that aims to repeal the bureau’s guidance on dealer participation.

Tags: Ally Financial, CFPB, Congress, Consumer Financial Protection Bureau, Department of Justice, Indirect Lending, legislation, Richard Cordray

March 31, 2015 - Industry News

New Ally Ad Campaign Highlights Human Side of Auto Business

The new ad campaign, titled “Driven By What We Love,” features print, online and video content that highlights dealers and Ally employees with a true passion for all things auto.

Tags: advertising, Ally Financial

February 5, 2015 - Industry News

GM Financial Triples Share of GM Leases

GM Financial officials said Ally shouldn’t be surprised by GM’s decision to internalize its lease program. The company ended the year with a 50% share of GM’s lease business.

Tags: Ally Financial, Fourth Quarter, General Motors, GM Financial, leasing, Quarterly Earnings

February 3, 2015 - Industry News

Ally Financial Names New CEO

Jeffrey Brown, who headed up Ally’s dealer-financial services business, will succeed Michael Carpenter, who is retiring from his post and from the company’s board after five years.

Tags: Ally Financial, Jeffrey Brown, Michael A. Carpenter

February 3, 2015 - Industry News

Ally ‘Highly Confident’ About Overcoming Boot From GM Leasing Program

During a quarterly earnings conference call last week, Ally’s former CEO opened up about General Motors’ unexpected decision to move all of its lease incentives to its captive, GM Financial.

Tags: Ally Financial, GM Financial, IPO, leasing, Quarterly Earnings

January 29, 2015 - Industry News

Ally Previews New Vehicle Service Contract and Technology Platform

Ally Premier Protection, Ally’s new flagship vehicle service contract, brings together enhanced features and benefits for auto consumers, powered by an intuitive and easy-to-use technology platform for dealers.

Tags: Ally Financial, F&I products, NADA Convention and Expo, vehicle service contracts

January 15, 2015 - Industry News

Ally Expands Dealer Training Offerings

Ally is adding F&I management training, vehicle selling skills, and compliance courses to its Performance Development Center. The new courses will be introduced at the NADA Convention and Expo next week.

Tags: Ally Financial, compliance, NADA Convention and Expo, training

January 13, 2015 - Industry News

Ally to Make FICO Scores Available to Customers

Ally Financial Inc. will begin piloting in February a new program designed to provide customers with free access to their FICO score. The company expects to fully launch the new service this summer.

Tags: Ally Financial, Credit, FICO, Obama administration

January 8, 2015 - Industry News

GM Financial Completes Acquisition of Ally’s International Operations

On Jan. 2, GM Financial and GMAC UK acquired Ally’s 40% equity interest in SAIC-GMAC Automotive Finance Company Limited, a joint venture that conducts auto finance operations in China.

Tags: Acquisition, Ally Financial, China, GM Financial

December 30, 2014 - Industry News

Government Loses $9.26 Billion on Auto Bailout

According to a report released by the U.S. Treasury Department this week, the government lost more than $9 billion on its bailout of General Motors Corp., Chrysler LLC and auto lending arms Ally Financial Inc. and Chrysler Financial.

Tags: Ally Financial, bailout, Chrysler Financial Services, Chrysler Group LLC, General Motors, impact of the Great Recession, U.S. Department of Treasury

December 19, 2014 - Industry News

Ally Subpoenaed By DOJ

On the same day the U.S. Department of the Treasury sold the last of its remaining 54.9 million shares of Ally common stock, Ally Financial revealed that it has received a subpoena from the Department of Justice related to subprime auto lending.

Tags: Ally Financial, American Honda Finance, Auto Lending, Credit Acceptance Corp., Department of Justice, GM Financial, impact of the Great Recession, Michael A. Carpenter, Santander Consumer USA, subprime, TARP, Toyota Motor Credit Corp, U.S. Department of Treasury

December 9, 2014 - Industry News

Ally Launches Enhanced Mobile and Online Tools for Auto Consumers

Ally Financial has improved its Ally Auto Mobile Pay app and added a new Click-to-Chat tool to its website that links users with live service agents.

Tags: Ally Financial, live chat, Mobile Applications

November 20, 2014 - Industry News

CFPB Needs a New 'Tool,’ Study Finds

F&I and Showroom delves into a new study commissioned by the American Financial Services Association. It concludes that the CFPB’s use of the BISG proxy method is “conceptually flawed” and could lead to overstatement of alleged harm to consumers.

Tags: Ally Financial, American Financial Services Association, auto finance, Bayesian Improved Surname Geocoding, BISG, CFPB, CFPB study, F&I manager, F&I office

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