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Violation Tracker Individual Record

Company: Ally Financial Inc.
Current Parent Company: Ally Financial
Parent at the Time of the Penalty Announcement:  subscribe to see this data field
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Penalty: $52,000,000
Year: 2016
Date: May 21, 2016
Offense Group: financial offenses
Primary Offense: toxic securities abuses
Secondary Offense: investor protection violation
Mega-Scandal: Toxic Securities
Violation Description: Ally Financial Inc. agreed to pay the United States $52 million to settle allegations that its subsidiaries acted improperly in relation to 10 subprime residential mortgage backed securities (RMBS) in 2006 and 2007.
Level of Government: federal
Action Type: agency action
Agency: U.S. Attorney-Central District of California
Civil or Criminal Case: civil
HQ Country of Current Parent: USA
HQ State of Current Parent: Michigan
Ownership Structure of Current Parent: publicly traded
Major Industry of Current Parent: financial services
Specific Industry of Current Parent: financial services
Source of Data: (click here)
Source Notes: If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Current parent company note: Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.