Ally Financial repays $5.9bn to US Treasury

GMT 21:20 2013 Wednesday ,20 November

Arab Today, arab today Ally Financial repays $5.9bn to US Treasury

Arab Today

 Ally Financial, the former finance arm of General Motors taken over by the government in the financial crisis, repaid the government $5.9 billion Wednesday, the US Treasury said. After two years of restructuring that turned Ally, previously known as GMAC Inc., into a bank holding company, the company has repaid the government $12.3 billion, more than 70 percent of the support provided, the Treasury said.

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