Delinquencies in the company's retail auto business rose about a cumulative 20 basis points in July and August compared to its expectations, Hutchinson told ...
The logo and trading information for Ally Financial Inc appear on a screen on the floor at the NYSE in New York - Ally Financial 's credit challenges have intensified over the quarter as borrowers struggled with high inflation and costs of living, the consumer lender's chief financial officer Russell Hutchinson said on Tuesday, sending its shares down 17%.
"Our borrower is struggling with high inflation and cost of living, and now more recently, a weakening employment picture," Hutchinson said.
Russell Hutchinson Credit Challenges Hutchinson Retail Auto Chief Financial Officer
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