Ally Financial bets on risky subprime car loans

Newswire

* Strategy reverses move away from risk * Ally plans to make half of loans on used cars * Plan is growth strategy following separation from GM * Tactic working now with used car prices at record highs * Others pile in, threatening repeat of past mistakes By David Henry NEW YORK, May 31 (Reuters) - Ally Financial Inc, the United States' largest maker of car loans, hopes that people have forgotten the time when "subprime" became a synonym for "disaster." Ally, once known as GMAC ...

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