Ally Financial Inc., the auto lender rescued by the U.S. government during the 2008 financial crisis, dropped in its trading debut after pricing its initial public offering at the low end of an expected range.
The U.S. Treasury Department has had Ally Financial Inc. in a regulatory headlock since its 2008 bailout. As the government sells shares in an initial public offering, Ally will soon breathe again -- and take on more risk.
Ally Financial Inc., the auto lender rescued by the U.S. government during the 2008 financial crisis, is helping the Treasury Department divest its stake by seeking as much as $2.7 billion in an initial public offering.
Billionaire Wilbur Ross invited Paul Ryan over for lunch. Goldman Sachs Group Inc. and Wells Fargo & Co. bankers met with Rand Paul at a fundraiser in Atlanta. Investor Rob Arnott dropped in on Ted Cruz.
Ally Financial Inc., the auto lender majority owned by the U.S. government, won regulatory approval to change its holding-company status, allowing the firm to keep an insurance business and a vehicle-auction website.