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.
June 25, 2015
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.
June 23, 2015
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.
February 3, 2015
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.
December 19, 2014
GM Financial realized its second best year for credit metrics in 2013, which drove profitability for the captive finance company. But officials believe credit will be ‘a bit weaker’ in 2014.
February 11, 2014