Wednesday, April 7, 2010 as of 11:14 AM ET
Ally Financial Inc., previously known as GMAC Inc. (an acronym for General Motors Acceptance Corporation), is a bank holding company headquartered in Detroit, Michigan, United States at Tower 200 of the Renaissance Center.
Read More at Wikipedia ›The bankruptcy of Ally Financial Inc.
's troubled mortgage business and potential sales of its international units will put the auto lender on stronger footing, Ally executives said Tuesday, despite questions about the ultimate fate of Ally's domestic operations.The mortgage unit, Residential Capital, filed for Chapter 11 bankruptcy Monday in Manhattan, paving the way for Ally to potentially rid itself of costly litigation and accelerate its repayment of a government bailout that topped $17 billion. To aid that effort, Ally also said it planned to sell auto-finance, insurance and banking operations in Canada, Mexico, Europe and South America.The combination of the moves will "really take our auto franchise, which is already a leader, to the next level and take Ally Bank to the next level" in the U.S., Michael Carpenter, Ally's chief executive officer, said on a conference call to discuss the strategy. The actions could also "accelerate our path to investment-grade" ratings and lower fun...Ally Financial Inc., the government-owned auto lender, said Friday it is extending most of the loans it provides to its struggling Residential Capital mortgage subsi...
Realizing that an initial public offering is likely not in the cards, the Treasury Department is reportedly nudging government-owned Ally Financial toward a breakup ...
Elliott Management Corp., a hedge fund led by Paul Singer, is urging Ally Financial Inc. to scrap potential plans for a bankruptcy of its foundering mortgage subsidi...
Auto lending continued to expand in the fourth quarter as more loans were made to borrowers with shaky credit and payment rates improved, credit bureau Experian said...
CIT Group Inc. (CIT) and Wells Fargo & Co. (WFC) could be interested in parts of Ally Financial Inc.'s business if the government-owned auto lender decides to sell a...
(Updated with executive comment in sixth paragraph, CEO comments in paragraphs 11-12 and details about GM and Chrysler loans in paragraph 15.)NEW YORK -(Dow Jones)- ...
Ally Financial Inc., one of the mortgage servicers in discussions with state and federal officials over a settlement of alleged foreclosure abuses, said Tuesday it w...
WASHINGTON -(Dow Jones)- The U.S. Treasury selected Perella Weinberg Partners LP to advise it on management and the eventual sale of its stake in Ally Financial Inc....
Ally Financial Inc. is interviewing bankers this week for its initial public offering, according to two sources familiar with the situation.The banks being interview...
By Dan WilchinsNEW YORK (Reuters) - Ally Financial Inc, a lender majority-owned by the U.S. government, said its mortgage risk is becoming manageable and it aims to ...
One of the biggest problem banks in the country -- and the beneficiary of a big taxpayer bailout -- is a little closer to getting its act together. But Ally Financia...
Ally Financial Inc.'s (GMA.XX) troubled mortgage subsidiary filed for Chapter 11 bankruptcy early Monday, potentially paving the way for Ally to sever itself from su...
Attempting to speed up its repayments to taxpayers, bailed-out lender Ally Financial put its troubled Residential Capital division into Chapter 11 bankruptcy and sai...
The U.S. Treasury Department has agreed to support a bankruptcy filing for the struggling home-loan unit of government-owned lender Ally Financial Inc., if the compa...
Ally Financial Inc. (GMA.XX), the government-owned auto lender, could incur up to $1.25 billion in losses if its struggling mortgage subsidiary, Residential Capital,...
Ally Financial Inc. is determined to diversify its auto-lending partners as it faces the potential loss of loan volume from Chrysler Group LLC, Ally executives said ...
Ally Financial Inc., the government-owned lender that may seek bankruptcy protection for its struggling mortgage business, posted a $310 million profit in the first ...
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