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 standards for borrowers by instituting tighter verification requirements for proving income and employment. “Our origination trends reflect a deliberate strategy...
The banks fizzled this past week, marking the lone swath of red — measured in terms of declining stock prices — in the latest weekly reading of the CE 100 Index’s performance. Yet, the overall performance was positive, as the index itself was 3.8% higher....
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 about lower-income customers struggling to stay on top of payments, The Wall Street Journal (WSJ) reported Saturday (Sept. 14). Also...
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 on auto loans, consumers are running out of gas (pun intended). This week, Ally Financial was in the spotlight as...
September 16, 2024
The banks fizzled this past week, marking the lone swath of red — measured in terms of declining stock prices — in the latest weekly reading of the CE 100 Index’s performance. Yet, the overall performance was positive, as the index itself was 3.8% higher. iRobot shares gathered 21.3%, while the Live segment of the […]
January 15, 2024
Friday heralded the official kick off of earnings season, with banks leading the charge. Within the CE 100 Index, gains seen in the work segment were blunted by the bank...
January 23, 2023
Despite concerns over consumer spending, PYMNTS’ ConnectedEconomy “CE 100” Stock Index gained ground this past week, as it extended its recent run with another 1% weekly advance. And thus far,...
October 19, 2021
The only thing rising faster than digitally connected banking is the increasing consumer expectations that surround those services. In the latest Digital-First Banking Tracker, Ally Financial's Sathish Muthukrishnan discusses how...
October 18, 2024
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 standards for borrowers by instituting tighter verification requirements for proving income and employment. “Our origination trends reflect a deliberate strategy to be increasingly selective in our underwriting with a focus […]
September 15, 2024
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 about lower-income customers struggling to...
July 17, 2024
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, due in part to losses...
March 27, 2024
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 resigned as the CEO of...
