Ally Financial

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.

[more]

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.

[more]

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.

[more]

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.

[more]

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.

[more]

Is Ally's leap into subprime credit cards worth the risk?

02/19/20

Investors are reacting skeptically to the auto lender's deal to acquire CardWorks for $2.65 billion.

[more]

Banks are all revved up for boat, RV lending

11/14/19

Bank of the West intends to stop making indirect auto loans and will instead focus on financing purchases of boats and recreational vehicles. It’s just the latest example of a regional bank pouring more resources into the powersports sector.

[more]

The risk lurking in banks' car loan portfolios

10/16/19

While demand is strong and loan performance generally remains solid, the prevalence of longer loan terms has sparked concern that losses will eventually spike.

[more]

Ally ends credit card experiment, pivots to point-of-sale loans

07/18/19

The company, which announced the conclusion of a three-year-old credit card partnership with TD Bank, is shifting to digital financing of individual consumer purchases.

[more]

House Dems put spotlight on auto lending discrimination

05/01/19

Democratic lawmakers made clear at a hearing Wednesday that they do not intend to abandon the issue following the GOP's repeal of regulatory guidance last year.

[more]