Ally Financial Repays $4.5B in Gov’t Debt

“Ally Financial has repaid $4.5 billion of debt owed to the government after it helped bail the company out during the 2008 banking industry meltdown.

Ally, which used to be called GMAC Financial Services, was the financial arm of automaker General Motors until GM sold its controlling stake in Ally in 2006. The government first invested in Ally in 2008, with the Treasury Department eventually gaining a 74 percent equity stake in Ally in December 2010.”

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