Ally Financial Inc., the auto finance firm majority-owned by U.S. taxpayers, said third-quarter profit fell 76 percent as the company settled U.S. claims for soured mortgages and stopped making new home loans.
Ally Financial Inc., the auto lender whose mortgage unit went bankrupt, may sell international car- finance and insurance operations to help repay a $17.2 billion U.S. bailout, Chief Executive Officer Michael Carpenter said.
GMAC Inc. , the U.S.-controlled auto and home lender, is close to naming a chief financial officer and has considered appointing Barbara Yastine , the former CFO for investment banking at Credit Suisse Group AG and Citigroup Inc., according to three people with knowledge of the search.
Ally Financial Inc., the auto lender seeking to repay a U.S. bailout, is raising $1 billion in a private placement and said it will pay $5.9 billion in a plan to buy back preferred shares held by the Treasury Department.
Ally Financial Inc. , the lender that’s 56 percent owned by the U.S., may stage an initial public offering next year and could be worth as much as $30 billion, according to Chief Executive Officer Michael Carpenter .
Ally Financial Inc., the largest U.S. auto lender, enlisted Cerberus Capital Management LP’s Lenard Tessler to help oversee turnaround efforts and salvage the government’s $17.2 billion investment, four people with knowledge of the matter said.
Ally Financial Inc. contributed $750 million to cover legal claims on soured loans tied to its bankrupt mortgage unit, even though the firm calls them meritless, “to avoid the noise,” according to its leader.