ALLY News & Events

Car repossessions are at their highest levels since the 2008-2009 financial crisis, prompting Senator Elizabeth Warren to launch a Senate probe into the auto lending industry, CNN's Matt Egan reports. The investigation targets illegal or mistaken repossessions and has requested data from major lenders on repo activity, error rates, and practices. Warren has sent letters to a dozen major industry players including Chase Auto (JPM), GM Financial (GM), Toyota Financial Services (TM), and Ally Financial (ALLY) on Wednesday as part of the probe, saying "Car repossession is a devastating disruption to someone's life - and it is inexcusable when that repossession is in error."

Ally Financial announced the appointment of Rodney Hood as a senior policy advisor to the CEO. "In this role, Hood will leverage his nearly three decades of leadership in banking, regulation, risk management and financial inclusion to provide invaluable counsel on political affairs and D.C. engagement, further strengthening Ally's voice in critical policy discussions. Hood brings an unparalleled depth of experience to Ally, having held multiple presidential appointments across two administrations. He notably served as Acting Comptroller of the Currency and as Chairman of the National Credit Union Administration, making him the first individual in U.S. history to lead both federal regulatory agencies responsible for insured depository institutions. During his tenure as Acting Comptroller, he also contributed to the Board of Directors of the Federal Deposit Insurance Corporation, served as a voting member of the Financial Stability Oversight Council, and chaired the Federal Financial Institutions Examination Council. His prior career includes senior leadership positions with JPMorgan Chase, Wells Fargo, NationsBank - now Bank of America, GE Capital, and the U.S. Department of Agriculture," Ally stated.