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Stock impact report

~25% of Ally Financial auto loan customers are deferring payments [Seeking Alpha]

Ally Financial Inc. (ALLY) 
Last ally financial inc. earnings: 4/20 07:30 am Check Earnings Report
US:NYSE Investor Relations: ally.com/about/investor
Company Research Source: Seeking Alpha
Financials|~25% of Ally Financial auto loan customers are deferring paymentsApr. 20, 2020 3:46 PM ETAlly Financial Inc. (ALLY)Liz KiescheAbout 1.1M of Ally Financial's (-2.4%are usingSome 76% of those borrowers have never had an extension before and 70% have never been delinquent with Ally, she said."We believe participation in this program will lower lost content due to the additional time and flexibility we are providing to our customers," she said.Ally is also increasing customer servicing support and using techniques and readiness tools to keep track of their customers' ability to pay."We will be able to track leading indicators of defaults and intervening early with loss mitigation actions to help keep our customers on track with their payments," she said.72% of dealers are using some form of relief offered by Ally.Q1 retail auto net charge-offs of $262M, or 1.44% annualized rate, compares with $271M, or 1.49%, in Q4 2019 and $234M, or 1.32%, in Q1 2019.Overall, Ally expects ret Show less Read more
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