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2009 Archives
Dec 30, 2009
GMAC Financial Services Announces Key Capital and Strategic Actions
NEW YORK (Dec. 30, 2009) -- GMAC Financial Services today announced a series of actions intended to strengthen the company's capital base, position it for improved financial performance, minimize...More
Dec 16, 2009
SmartAuction and Stream Combine Virtual and Physical Strengths to Remarket Repossessed Vehicles
TROY, Mich. (Dec. 16, 2009) — SmartAuction and Stream have agreed to enter into an alliance to extend the benefits of upstream remarketing to a greater number of wholesale consignors of...More
Dec 14, 2009
Canadian Capital Auto Receivables Asset Trust and Canadian Capital Auto Receivables Asset Trust II Complete Regulatory Filings
TORONTO, Ontario (Dec. 14, 2009) – Canadian Capital Auto Receivables Asset Trust (CCARAT) and Canadian Capital Auto Receivables Asset Trust II (CCARAT II) have each re-filed chief executive...More
Nov 16, 2009
GMAC Names Michael A. Carpenter Chief Executive Officer; Will Lead Next Phase Of Renewal
NEW YORK (Nov. 16, 2009) -- The Board of Directors of GMAC Financial Services (GMAC) today named Michael A. Carpenter, a board member with extensive financial services experience, chief executive...More
Nov 5, 2009
GMAC Statement on Financing of Chrysler Dealers, Customers
DETROIT (Nov. 5, 2009) – GMAC Financial Services has ramped up quickly as the preferred financing source for the Chrysler Group, its dealers and customers. Retail Financing  GMAC is now the...More
Nov 4, 2009
GMAC Financial Services Reports Preliminary Third Quarter 2009 Financial Results
  - Third quarter net loss of $767 million - Net loss from continuing operations of $671 million - Focus remains on strengthening strategic operations and exiting non-strategic assets -...More
Oct 28, 2009
GMAC Financial Services Offers $2.9 Billion of Guaranteed Debt
Company participates in FDIC's Temporary Liquidity Guarantee Program
DETROIT (Oct. 28, 2009) -- GMAC Financial Services today announced that it has priced an offering for $2.9 billion of senior fixed rate notes guaranteed by the Federal Deposit Insurance...More
Oct 27, 2009
GMAC Financial Services Schedules Release of Third Quarter 2009 Financial Results
  NEW YORK, Oct. 27, 2009 -- GMAC Financial Services has scheduled the release of its third quarter 2009 financial results for Wednesday, Nov. 4, 2009. The press release, including financial...More
Oct 22, 2009
GMAC Statement on Executive Compensation Plan
DETROIT (Oct. 22, 2009) -- GMAC Financial Services has received notification from the U.S. Department of the Treasury’s Office of the Special Master on the company’s executive compensation...More
Oct 21, 2009
GMAC Financial Services Declares Dividends on Preferred Stock
DETROIT (Oct. 21, 2009) -- The GMAC Financial Services board of directors declared quarterly dividend payments on certain outstanding preferred stock. The dividends were declared on Oct. 15, 2009...More
Oct 15, 2009
SmartAuction Signs Deal with CenterOne Financial Services
TROY, Mich. (Oct. 15, 2009) – SmartAuction, the remarketing industry’s leading, upstream wholesale auction Web site, has signed a deal with CenterOne Financial Services LLC (CenterOne) to...More
Sep 25, 2009
GMAC Correspondent Lending to Focus on Community Banks
FORT WASHINGTON, Penn., Sept. 25, 2009 – GMAC Financial Services today announced that the Correspondent and Warehouse Lending division of Ally Bank has formed a Correspondent Community Bank team...More
Sep 16, 2009
GMAC Expands Leasing Options to Chrysler Customers
DETROIT (Sept. 16, 2009) -- GMAC Financial Services today announced it has expanded its availability of leasing options to include Chrysler vehicles. "GMAC is introducing new competitive standard...More
Sep 14, 2009
SmartAuction Records its 3 Millionth Online Sale
TROY, Mich. (Sept. 14, 2009) – SmartAuction recently recorded another historical milestone with its 3 millionth upstream used vehicle sale only days after unveiling the future of its industry...More
Sep 3, 2009
Ally Offers Online Savings in Canada
New online savings products will challenge banking as usual with top interest rates, no fees or minimums, and 24-hour customer service.
TORONTO, Sept. 3, 2009 -- Ally today announced that it is launching online savings products in Canada, offering interest rates among the highest in the country and 24-hour customer service. "Our...More
Aug 31, 2009
Ally Bank Expands Ten-Day Best Rate Guarantee to Renewing CDs
MIDVALE, Utah, Aug. 31, 2009 -- Customers with Ally Bank certificates of deposit (CDs) coming up for renewal can rest easy knowing that they will get the best rate Ally offers for 10 days from the...More
Aug 20, 2009
GMAC-SAIC Surpasses 10 Billion CNY in Retail Assets on Fifth Anniversary
Consistent growth for the market leader in automotive finance in China
SHANGHAI, China (Aug. 20, 2009) – GMAC-SAIC Automotive Finance Co., Ltd. (GMAC-SAIC), which is celebrating the fifth anniversary of its founding this August, announced today that its retail...More
Aug 11, 2009
SmartAuction Unveils State-of-the-Art Web Site
TROY, Mich. (Aug. 11, 2009) – SmartAuction today announced the launch of its new online auction platform which is designed to enhance the user experience of its industry leading upstream...More
Aug 10, 2009
GMAC to Offer New Leasing Option for Select Vehicles
DETROIT (Aug. 10, 2009) -- GMAC Financial Services today announced it will offer a leasing option for auto consumers on select vehicles. "GMAC's increased funding flexibility, the completion of...More
Aug 7, 2009
GMAC Seeks Strategic Growth in Correspondent and Warehouse Lending
Channel Capitalizing on Decrease in National Lenders, Robust Funding Base
FORT WASHINGTON, Penn., Aug. 6, 2009 – GMAC Financial Services today announced that the company is strategically seeking to grow volume in its Correspondent and Warehouse Lending division.  ...More
Aug 6, 2009
GMAC Statement on “Cash for Clunkers” Program
DETROIT (Aug. 6, 2009) -- GMAC Financial Services today issued the following statement regarding the "Cash for Clunkers" program: GMAC will administer a General Motors incentive program to provide...More
Aug 4, 2009
GMAC Financial Services Reports Preliminary Second Quarter 2009 Financial Results
- Second quarter after-tax net loss of $3.9 billion - Strategic actions to streamline GMAC for the long term resulted in several significant charges - Excluding certain significant items, second...More
Jul 29, 2009
Ally Bank Survey Shows Consumers Making Changes to Increase Savings
Nearly half continue to shop around for better savings options
MIDVALE, Utah, July 29, 2009 -- Consumers are cutting back on expenses and shopping around for the best places to save money, according to survey results released today by Ally Bank. The survey...More
Jul 28, 2009
GMAC Financial Services Schedules Release of Second Quarter 2009 Financial Results
NEW YORK, July 28, 2009 -- GMAC Financial Services has scheduled the release of its second quarter 2009 financial results for Tuesday, Aug. 4, 2009. The press release, including financial...More
Jul 27, 2009
SmartAuction Increases Service Options for Users
AutoTransMart added to remarketing Web site’s list of transport vendors TROY, Mich. (July 27, 2009) – SmartAuction is enhancing service offerings for dealers and wholesalers by adding...More
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