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NewsJune 1, 2009

GMAC Responds to GM Bankruptcy Filing

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.

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NewsMay 27, 2009

GMAC Establishes New Board of Directors

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.

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NewsMay 26, 2009

New Bills Could Halt Subprime Lending, Encourage Bankruptcies

Friendly Finance Corp.'s President Steven Pittler warned that successful passage of Senate Bill 257 would impair finance companies' ability to lend to subprime buyers and serve as an incentive for cash-strapped drivers to file for bankruptcy.

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NewsMay 26, 2009

Majority of Chrysler Dealers Ready for Business Through GMAC

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.

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NewsMay 26, 2009

Manufacturer Incentives Limited Influence on New-Car Buyers

Automaker incentives had minimal effect on new-car buyer purchases in April, reported CNW Market Research in its May newsletter.

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NewsMay 21, 2009

GMAC Financial Services Gets $7.5 Billion From U.S. Treasury

GMAC Financial Services announced Thursday that it will receive $7.5 billion from the U.S. Department of the Treasury, as well as other key actions that will significantly improve the company's capital position and access to liquidity.

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NewsMay 21, 2009

Ally Bank Kicks the Asterisks in New Ad Campaign

Ally Bank has kicked off a marketing and advertising campaign that empathizes with bank customers who are fed up with fine print, hidden fees and teaser rates.

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NewsMay 20, 2009

Chrysler Financial Resumes Special APR Program for Dealers

Chrysler Financial announced Wednesday the resumption of subvented retail annual percentage rate (APR) programs in conjunction with Chrysler LLC.

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NewsMay 19, 2009

Subprime Auto ABS Stays on Track

Ratings agency DBRS said lower volume and a more selective business practice may lead to an improvement in subprime auto ABS performance.

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NewsMay 19, 2009

General Acceptance Corp. Adopts XpressCredit Loan Origination System

XpressCredit added General Acceptance Corp. of Fairfield, N.J., to its Web-based, indirect lending platform.

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