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.
February 5, 2015
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.
February 5, 2015
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.
February 3, 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
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.
January 13, 2015
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.
January 8, 2015
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.
December 30, 2014
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
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.
December 9, 2014
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.
November 20, 2014
Ally announced today that William Muir, the company’s current president and head of Dealer Financial Services business, will retire at the end of 2014. Replacing him will be Jeffrey Brown.
March 13, 2014
Ally Financial’s quarterly report shows growth for the company and its network, but also reveals the impact of the company’s settlement with the CFPB and DOJ, as well as its ResCap bankruptcy plan.
February 11, 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
The U.S. Department of the Treasury announced this week that it expects to sell 410,000 shares of Ally Financial Inc. common stock in a private offering at $7,375 per share. The sale is part of the department’s continued effort to wind down the Troubled Asset Relief Program.
January 16, 2014
As a financial holding company, Ally is permitted to engage in a broader range of business activities and can continue to operate its insurance and remarketing businesses as part of its dealer financial services operation.
December 31, 2013
With its recent payment, the auto finance source has now returned more than 70 percent of the government’s $17.2 billion investment.
November 21, 2013
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