Former General Motors Financial Unit Selling Off Divisions To Pay Off Bailout

Ally Financial Inc., the auto lender that's selling assets to repay a U.S. bailout, said its bank subsidiary may divest its portfolio of agency mortgage servicing rights and business-lending operations.

The firm wants to focus on customer deposits and supporting auto finance, the Detroit-based company said Friday in a statement. Ally said it will "explore strategic alternatives" for the two assets, language that typically means the units are for sale.




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