Ally Financial taking $6B step toward exiting TARP

Ally Financial plans to sell $1 billion in shares to investors and repay the Treasury nearly $6 billion. The move will allow Ally to reduce the government's stake in its ownership to around 65%, from 74%. The Treasury payment will bring Ally's total repaid to the government to $12.1 billion out of $17.2 billion borrowed.

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Wall Street Journal (tiered subscription model), The · Reuters

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