Ally Financial is now offering consumer auto financing products for vehicles purchased on Beepi, a technology company that allows consumers to purchase cars online or through their smartphones.
Five million vehicles have been sold on Ally Financial’s online auction platform, the company announced this week.
Ally Financial has renewed its exclusive sponsorship of the TIME Dealer of the Year program through 2021. Nominations for the 2016 program are now open.
Starting July 19, Ally will offer customers direct access to their FICO Scores and APR within their online accounts. The finance source has also launched a secure email feature on its site to help customers send and receive account information and documentation.
In a 5-4 vote, the Supreme Court held that disparate impact claims are cognizable under the Fair Housing Act, dashing the hopes of industry insiders who believed a ruling against the controversial legal theory would put a kibosh on the CFPB’s actions in auto lending.
A CFPB official disclosed in a June 15 blog post that the administrator of the Ally settlement fund has begun contacting and mailing checks to borrowers who were affected by Ally’s alleged discriminatory auto lending policies.
Ally Financial and Mitsubishi Motors North America have announced that Ally will become the preferred financing source for Mitsubishi Motors in the United States, replacing the brand's captive finance company.
On the same day The Wall Street Journal published an op-ed piece critical of the CFPB’s targeting of the indirect auto finance channel, a bipartisan bill was introduced that aims to repeal the bureau’s guidance on dealer participation.
GM Financial officials said Ally shouldn’t be surprised by GM’s decision to internalize its lease program. The company ended the year with a 50% share of GM’s lease business.
Jeffrey Brown, who headed up Ally’s dealer-financial services business, will succeed Michael Carpenter, who is retiring from his post and from the company’s board after five years.
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