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GMAC Financial Services

GMAC Assumes New Name in August

Ally Financial Inc. today said it will rebrand its GMAC consumer and dealer-related auto finance operations in the U.S., Canada and Mexico and begin using the Ally name in August. This follows the transition of the corporate entity to Ally Financial Inc. in May.

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GM Certified Used Vehicles Offers 1.9 Percent APR Financing

GM Certified Used Vehicles announced that GMAC Financial Services is offering well-qualified buyers nationwide APR financing as low as 1.9 percent on the Chevy Impala and Pontiac G6.

Ally Financial Names Chief Administrative Officer

Ally Financial Inc. (Ally) today announced that Barbara Yastine was appointed to the newly created role of chief administrative officer, effective immediately. She replaces Samuel Ramsey, chief risk officer, who elected to leave the company for personal reasons, but will remain with Ally until May 31, 2010.

GMAC Swings to First Profit in 11 Quarters

With its strategy to plug up its leaking mortgage unit taking hold, GMAC Financial Services swung to its first profitable quarter since the fourth quarter of 2008. The company also announced its intention to change its name on May 10, with company officials saying the focus going forward will center on the lender’s auto franchise.

GMAC Names Jack Stack as Independent Director

GMAC Financial Services announced that Jack Stack was appointed as an independent director to its board of directors, effective April 12. Stack will also serve on the audit committee and risk and compliance committee.

DealerTrack Connects 850th Financing Source

DealerTrack Inc., a subsidiary of software provider DealerTrack Holdings Inc., announced Monday that the number of active financing sources connected to the DealerTrack network reached 850.

GMAC's William Muir Announces Retirement

After a nearly 27-year career with GMAC Financial Services and its former parent, General Motors, William Muir, president and head of the company’s Global Automotive Services, announced his intention to retire from GMAC within the next year.

GMAC to Lend to RV Customers of Thor Industries

GMAC Financial Services today announced that it will provide consumer financing for recreation vehicles and has been selected by Thor Industries as the preferred financial provider for its retail customers.

Watchdog Report Says GMAC Bailout Could Cost Taxpayers $6.3 Billion

The Congressional Oversight Panel criticized the Treasury Department last week for its decision to save the struggling GMAC Financial Services without requiring it to provide an exit strategy, proof of viability or plan to fully repay taxpayers.

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GMAC to Provide Financing for Saab Dealers and Customers

Following its successful launch as an independent company, Saab Automobile announced Monday that it has selected GMAC Financial Services as the preferred provider of wholesale and retail financial services for qualified Saab dealers and customers worldwide.