Ally Financial Returns $5.9 Billion to U.S. Today, Treasury Says

Ally Financial Inc. (ALLY), the auto lender bailed out by U.S. taxpayers, repaid the government $5.9 billion today, the Treasury Department said.

Taxpayers have been repaid $12.3 billion, or more than 70 percent of the investment provided under the Troubled Asset Relief Program, according to a Treasury statement today. The Federal Reserve said Nov. 15 that it doesn’t object to a revised capital plan submitted by Detroit-based Ally.

Ally said in August that it planned to pay the Treasury the $5.9 billion.

To contact the reporter on this story: Ian Katz in Washington at ikatz2@bloomberg.net

To contact the editor responsible for this story: Chris Wellisz at cwellisz@bloomberg.net

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