Ally Posts Second-Quarter Loss on Costs of ResCap Bankruptcy

Ally Financial Inc., the U.S.- controlled lender whose mortgage subsidiary went bankrupt, posted a second-quarter loss on costs tied to the court filing.

The loss of $898 million compares with profit of $113 million a year earlier, Ally said today in a statement. The core pretax loss was $753 million, Ally said. The Detroit-based company doesn’t have publicly traded shares.