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TAG SEARCH RESULT: impact of the Great Recession

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September 16, 2015 - Industry News

Chrysler Dealer Lawsuit Against U.S. Government to Go Forward

A lawsuit alleging that the U.S. government acted illegally when it required Chrysler to close down 789 dealerships in order to be eligible for funding from the Troubled Asset Relief Program will be allowed to move forward, a judge ruled last week.

Tags: Bellavia Blatt, Chrysler, impact of the Great Recession, Lawsuit, Leonard Bellavia, TARP, Troubled Asset Relief Program

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

August 14, 2014 - Industry News

Industry Responds to New York Times Op-Ed on Subprime Auto Loans

Photo Credit: Scallop Holden via Compfight cc

Industry associations responded this week to a New York Times opinion piece claiming that subprime auto lending is a predatory practice that stands to go the way of subprime mortgages.

Tags: AFSA, American Financial Services Association, Auto Lending, Department of Justice, impact of the Great Recession, Investigation, mortgage, NADA, National Automobile Dealers Association, Peter K. Welch

June 5, 2014 - Industry News

Dealer Group Posts All-Time Sales Record in May

Sales at Fla.-based Rick Case Automotive Group were up 28% from last year, with Memorial Day weekend sales surpassing all previous weekend sales records.

Tags: impact of the Great Recession, monthly sales

November 21, 2013 - Industry News

Ally Repays $5.9 Bill to U.S. Treasury

With its recent payment, the auto finance source has now returned more than 70 percent of the government’s $17.2 billion investment.

Tags: Ally Financial, common stock, impact of the Great Recession, U.S. Department of Treasury

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