With Auto Loan Delinquencies Rising, Does This Mean Trouble for Ally Financial?
As fears of a 2023 recession grow, more investor scrutiny is being applied to the consumer finance sector. The COVID-19 pandemic provided lots of support for struggling consumers. However, these support mechanisms are expiring, and it looks like delinquencies are rising. What does this mean for Ally Financial (NYSE: ALLY)?
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Ally Financial (formerly known as the General Motors Acceptance Corp., or GMAC) is one of the biggest auto lenders in the United States. It also has Ally Bank, which is a digital depository insured by the FDIC. Ally offers mortgage lending, corporate finance, personal lending, insurance, and investment services as well.
Source Fool.com
