Violation Tracker Individual Record

Company: 
Ally Financial Inc.
Current Parent Company: 
Ally Financial
Penalty: 
$52,000,000
Year: 
2016
Date: 
May 21, 2016
Offense Group: 
financial offenses
Primary Offense: 
toxic securities abuses
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 Parent: 
USA
HQ State of Parent: 
Michigan
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
financial services
Specific Industry of Parent: 
financial services
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.