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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| General Motors Company | NYSE:GM | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.19 | 0.43% | 44.86 | 45.545 | 44.505 | 45.03 | 10,046,012 | 01:00:00 |
From May 2019 to May 2024
Ally Financial Inc. said it will pay $52 million under a settlement related to Residential Capital LLC mortgage-backed securities.
Ally said the settlement with the U.S. Justice Department resolves all outstanding DOJ investigations and potential claims concerning the securities.
The lender said in a Nov. 2 securities filing that it was in advanced settlement talks and had reserved $52 million.
Ally's former ResCap unit, a subprime mortgage lender, filed for bankruptcy in 2012 as litigation over soured mortgage securities mounted and bond payments loomed.
Ally said Monday that it agreed to withdraw the broker-dealer registration of Ally Securities LLC, which isn't a "strategically significant part of the company." The move won't affect Ally's ongoing operations.
Ally, formerly part of General Motors Co., has long focused on auto lending. It owns online bank Ally Bank and its other operations include wealth management and corporate finance.
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
November 21, 2016 18:55 ET (23:55 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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