Ally Financial Repays TLGP $2.9 Billion
The former captive has repaid $2.9 billion in debt issued under the FDIC’s Temporary Liquidity Program. Officials said the company expects full repayment in December 2012.
DETROIT — Ally Financial Inc. today announced it has repaid $2.9 billion in debt issued under the Federal Deposit Insurance Corp.'s Temporary Liquidity Guarantee Program (TLGP). The company issued this debt on Oct. 30, 2009, with a maturity date of Oct. 30, 2012.
The final Ally debt issuance, which totals $4.5 billion, guaranteed under the TLGP will be repaid in December 2012, officials said.
"The TLGP enabled Ally to access another source of liquidity during a time when there were limited options for financial institutions. This liquidity was a key contributor in Ally being able to continue offering financing options for thousands of auto dealers across the United States and millions of their customers during the financial crisis," said Ally Senior Executive Vice President of Finance and Corporate Planning Jeffrey Brown. "Ally continues to make significant progress in executing our strategic plans, and the announcements we have made in recent weeks will further enable us to repay the assistance from government programs."
More Auto Finance
Smaller Loans, Longer Terms
The youngest generation of car buyers is more likely to finance less expensive vehicles, more than half of generation Z consumers borrowing less than $25,000.
Read More →
New Cars a Tad More Affordable
May averages show that combined circumstances gave auto consumers slightly better buying power for the month, though average prices were up year-over-year.
Read More →
First-Quarter Sees Long Auto Loan Growth
Experian data show more consumers are tapping the method, along with refinancings, to afford buying. Meanwhile, subprime borrowers are getting more access.
Read More →
Mastering Credit Friction
In this video, Josh Krach explains how to turn credit friction into an advantage.
Read More →
April Less Affordable
Based on prices, reduced incentives and slower household income growth, consumers found it more challenging to buy new last month, Cox Automotive reported.
Read More →
Auto Lenders, Consumers on a Tightrope
April borrowing data shows that more consumers are bending over backward to buy vehicles, though subprime lending cooled off for the month.
Read More →
Toyota Financial Services President Replaced
Scott Cooke has served in various roles with Toyota Financial Services for over 20 years, including president and CEO, which he retires from on June 30.
Read More →
Permission or Approval: When to Notify Finance Sources
Credit card down payments, multiple vehicle purchases and even straw purchases can be completed without committing bank fraud, as long as you tell the bank first.
Read More →
At-Risk Auto Borrowers Drive Looser Credit Access
Cox Automotive’s index shows the subprime segment, long loan terms, negative-equity borrowers and down payment amounts all grew in February despite ever-higher vehicle prices.
Read More →
Auto Loan Forecast Bucks Market Trend
Auto loan originations rose over 6% year-over-year in the third quarter of 2025, but TransUnion predicts a slight decline in auto loan growth this year, making it an outlier in the company's overall lending forecast.
Read More →