Harmed Ally borrowers have been sent $80 million in damages

In December 2013, together with the Department of Justice (DOJ) and pursuant to a federal court order, we ordered Ally Financial Inc. and Ally Bank to pay $ 80 million in damages to consumers harmed by Ally’s discriminatory auto loan pricing policies. Today, harmed borrowers participating in the settlement were mailed checks by the Ally settlement administrator, totaling $ 80 million, plus interest. We found that Ally had a policy of allowing dealers to increase or “mark up” consumers’ risk-based interest rates, and paying d…
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