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U.S. Department of Treasury

U.S. Treasury Issues White Paper on Online Marketplace Lending

On Tuesday, the U.S. Treasury issued a white paper on online marketplace lending. It includes a handful of recommendations to encourage safe growth of the segment and access to credit, including a call for more regulatory oversight.

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Government Loses $9.26 Billion on Auto Bailout

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.

Ally Subpoenaed By DOJ

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.

Treasury Plans to Sell Additional Ally Common Stock

The U.S. Department of the Treasury plans to wind down its investment in Ally Financial by selling additional shares of common stock through its first pre-defined written trading plan. The Treasury current holds about 16% of Ally common stock.

U.S. Treasury to Sell $3 Billion of Ally Stock

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.

Ally Repays $5.9 Bill to U.S. Treasury

With its recent payment, the auto finance source has now returned more than 70 percent of the government’s $17.2 billion investment.

GAO: GM Continues to Face Challenges With Competitiveness

According to the latest monthly report from the Government Accountability Office, General Motors might not have regained its competitiveness in the market despite the improvements its made since 2008.

Government Sells $489.9M of GM Stock

To date, the U.S. Department of the Treasury has recovered about $29.8 billion of its investment in General Motors.

Treasury to Exit GM Investment in 12-15 Months

The U.S. Department of the Treasury will remove itself from GM investments within 12-15 months by selling off its 500 million shares of common stock — 200 million back to GM, and the remainder through “various means.”