Ally Financial Inc, the U.S. auto lender 74-percent owned by the U.S. government, on Wednesday said it repaid its remaining debt issued under a financial-crisis-era program, the latest step in its effort to reimburse taxpayers.The former auto lending arm of General Motors Co said it paid back $4.5 billion in debt guaranteed by the Federal Deposit Insurance Corp's Temporary Liquidity Guarantee Program (TLGP). It repaid another $2.9 billion in debt issued under the program in October.Other financial institutions such as Bank of America Corp have also been repaying debt issued under the program, which aimed to bolster confidence in the banking system.Ally Chief Executive Michael Carpenter is working to repay a series of bailouts spurred by losses in the lender's Residential Capital mortgage unit during the financial crisis that erupted more than four years ago.
Bank of America Corporation (Bank of America) is a bank holding company, and a financial holding company. Shares of BAC fell by 1.1% or $-0.125/share to $11.24. In the past year, the shares have traded as low as $5.10 and as high as $11.36. On average, 151155008 shares of BAC exchange hands on a given day and today's volume is recorded at 111369032.
Financial Institutions, Inc. (FII) is a financial holding company. Shares of FISI fell by 1.02% or $-0.19/share to $18.50. In the past year, the shares have traded as low as $15.22 and as high as $19.52. On average, 22971 shares of FISI exchange hands on a given day and today's volume is recorded at 4442.
Source
