Ally Financial

Rebounding car sales drive lending boom at Ally

10/16/20

The auto lender says consumers’ skittishness about flying and using public transit during the pandemic has fueled a surge in demand for new and used cars. But executives remain wary of high unemployment and the potential for a rise in loan defaults.

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Ally to donate $30 million to address racial inequalities

09/24/20

The Detroit company will provide grants over the next three years to promote homeownership and help small businesseses struggling to recover from the pandemic and civil unrest.

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Ally expanding into retail point-of-sale lending

08/25/20

The company will offer retail installment loans up to $40,000 through a partnership with Mastercard's Vyze unit.

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Rebound in used-car purchases helps Ally post modest 2Q profit

07/17/20

Some 60% of Ally’s auto originations in the second quarter were used-vehicle loans, the highest percentage in the company's history.

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Ally, CardWorks call off planned merger

06/24/20

The companies said the "meaningful impacts" of the coronavirus pandemic led them to terminate the $2.7 billion deal.

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Fitch downgrades seven consumer lenders, including Amex, Capital One

04/29/20

Ally, Synchrony, Discover, Sallie Mae and Navient are the other lenders the ratings firm downgraded, citing the impact that the coronavirus crisis is having on their revenues and profits.

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Prepping for PPP 2.0, new bankers’ hours, rethinking branch design: Top stories of the week

04/24/20

Lenders are set to flood the SBA with new PPP applications; long nights and weekends the new normal; Fifth Third rethinks new-branch designs in light of coronavirus; and more from this week's most-read stories.

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Ally girds for surge in auto loan defaults

04/20/20

After more than tripling its loan-loss provision, the $182 billion-asset company became the first large U.S. bank to report a quarterly loss as a result of the coronavirus pandemic.

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How the coronavirus crisis is upending auto lending

04/08/20

Closed showrooms, temporary bans on repossessions and a sudden spike in unemployment have dimmed the prospects of a sector that has boomed since the last recession.

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Banks supplement benefits to help employees affected by coronavirus

03/20/20

From paying $1,000 bonuses to branch employees to subsidizing child care expenses, banks are offering a slew of new perks for front-line employees still working and more paid leave for those who are ill or caring for sick family members.

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