Ally Financial News

Federal Reserve Allows Ally Financial to Keep Insurance Unit

Ally Financial Inc., the auto lender majority owned by the U.S. government, won regulatory approval to change its holding-company status, allowing the firm to keep an insurance business and a vehicle-auction website. The Federal Reserve granted Ally’s request to convert …

Ally Financial to Sell Mexican Insurance Business to ACE

Auto lender Ally Financial, which is 74 percent-owned by the U.S. government, will sell its Mexican insurance business to insurance and reinsurance company ACE Ltd for $865 million in cash as it looks to focus on its U.S. operations. Ally, …