Search results
Results From The WOW.Com Content Network
General Motors Financial Company, Inc. is the financial services arm of General Motors.The company is a global provider of auto finance, with operations in the United States, Latin America, Canada, Europe (which was sold to PSA Groupe and BNP Paribas following the sale of GM's core area businesses Opel and Vauxhall in a $2.2 billion deal), and China.
On June 1, 2009, the court gave interim approval to GM's request to borrow $15 billion as debtor-in-possession financing, the company only having $2 billion cash in hand. The United States Treasury had argued in court that it was the only source of such debtor in possession funding, and that without the money from the loan General Motors would ...
On May 27, 2009, the U.S. Treasury advanced a secured loan of US$360.6 million to GM, and GM issued a note to the Treasury for US$360.6 million, plus $24.1 million USD as additional compensation for the warranty advance, pursuant to the terms of the Warranty Agreement dated December 31, 2008, between GM and the U.S. Treasury. The loan funded a ...
The General Motors arm seized the cars of 71 service members and mishandled more than 1,000 requests for lease termination in violation of the Servicemembers Civil Relief Act.
Discover the latest breaking news in the U.S. and around the world — politics, weather, entertainment, lifestyle, finance, sports and much more.
According to an April 2014 report of the Special Inspector General of the Troubled Asset Relief Program, the U.S. government had lost $11.2 billion (~$14.2 billion in 2023) in its rescue of General Motors. The U.S. government spent $50 billion to bail out GM, meaning it recovered 77.6 percent of its investment amount. [7]
Get AOL Mail for FREE! Manage your email like never before with travel, photo & document views. Personalize your inbox with themes & tabs. You've Got Mail!
Key takeaways. In May 31,2023, the Consumer Financial Protection Bureau ordered OneMain Financial to pay $20 million for deceiving and misleading some 25,000 consumers.