Reuters: Regulatory News: CFPB probing Ally Financial retail financing practices -filing

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CFPB probing Ally Financial retail financing practices -filing Mar 1st 2013, 22:42 March 1 | Fri Mar 1, 2013 5:42pm EST March 1 (Reuters) - Ally Financial Inc said in a securities filing on Friday that the Consumer Financial Protection Bureau has recently told the U.S. auto lender that it's being investigated for certain "retail financing practices." Ally said in the filing with the U.S. Securities and Exchange Commission that the probe could result in actions against the company. An Ally spokeswoman declined to comment. Ally's lending includes retail financing and leasing for new and used vehicles for consumers. Ally, the former financing arm of General Motors Co, is 74 percent owned by the U.S. government after a series of bailouts during the financial crisis.

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