Earnings reports this season, particularly from banks, have taken note of the resilience in consumer spending, especially on debit and credit cards, in various areas...
Ally Financial CEO Michael Rhodes says the company’s next few quarters will be “choppy.” In a third-quarter earnings presentation Friday (Oct. 18), the auto lender said it had imposed stricter...
The banks fizzled this past week, marking the lone swath of red — measured in terms of declining stock prices — in the latest weekly...
Americans’ struggles with their bills has reportedly been bad news for consumer lending firms. Shares in those companies fell last week following warnings from executives...
The money consumers saved during the pandemic has been spent. Savings are pressured, and credit card debt is mounting. When it comes to keeping current...
Ally Financial reported Wednesday (July 17) that its net charge-offs (NCOs) in the second quarter rose in comparison to the same quarter a year earlier,...
Ally Financial has announced that Michael G. Rhodes will become its new CEO and will be appointed to the board of directors on April 29. Rhodes has just...
Synchrony has completed its purchase of Ally Lending, Ally Financial’s point-of-sale (POS) financing business. The deal, first announced in January, includes $2.2 billion of loan receivables and a loan portfolio...
Synchrony Financial posted fourth-quarter results that showed charge-offs increasing as management pointed to credit normalization in the months ahead, and said the firm was also...