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<title><![CDATA[RSS for Ally]]></title>
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<title><![CDATA[Ally to pay ResCap $2.1 billion to settle creditor claims]]></title>
<link><![CDATA[http://www.autonews.com/article/20130523/OEM10/130529941/ally-to-pay-rescap-2-1-billion-to-settle-creditor-claims]]></link>
<guid>http://www.autonews.com/article/20130523/OEM10/130529941/ally-to-pay-rescap-2-1-billion-to-settle-creditor-claims</guid>
<pubDate><![CDATA[Thu, 23 May 2013 14:30:56 EDT]]></pubDate>
<description><![CDATA[WILMINGTON, Delaware (Bloomberg) -- Ally Financial Inc., the auto lender majority-owned by the U.S. government, agreed to pay $2.1 billion to avoid lawsuits related to its bankrupt mortgage unit, Residential Capital LLC. Under the settlement, Ally will pay $1.95 billion in cash to the ResCap ...]]></description>
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<title><![CDATA[Expert advice to improve your operation]]></title>
<link><![CDATA[http://www.autonews.com/article/20130520/RETAIL02/305209970/expert-advice-to-improve-your-operation]]></link>
<guid>http://www.autonews.com/article/20130520/RETAIL02/305209970/expert-advice-to-improve-your-operation</guid>
<pubDate><![CDATA[Mon, 20 May 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[Dealership finance and insurance experts will offer tips and counsel during Automotive News FandI Week, a free online conference of six Webinars on June 11-13. Some highlights: L. Jean Noonan and Tom Buiteweg, partners with the Hudson Cook law firm, will answer dealers' questions about the Consumer ...]]></description>
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<title><![CDATA[True Value of Tesla? (5/15/13)]]></title>
<link><![CDATA[http://search.autonews.com/v/74945928/true-value-of-tesla-5-15-13.htm?]]></link>
<guid>http://search.autonews.com/v/74945928/true-value-of-tesla-5-15-13.htm?</guid>
<pubDate><![CDATA[Wed, 15 May 2013 08:22:26 EDT]]></pubDate>
<description><![CDATA[Snyder: Is EV start-up really worth more than Fiat and PSA?; driving losing popularity; 'Talking car' wildcard.]]></description>
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<title><![CDATA[Ally clears barrier for IPO with plan to resolve mortgage claims]]></title>
<link><![CDATA[http://www.autonews.com/article/20130515/FINANCE_AND_INSURANCE/305169996/ally-clears-barrier-for-ipo-with-plan-to-resolve-mortgage-claims]]></link>
<guid>http://www.autonews.com/article/20130515/FINANCE_AND_INSURANCE/305169996/ally-clears-barrier-for-ipo-with-plan-to-resolve-mortgage-claims</guid>
<pubDate><![CDATA[Wed, 15 May 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[SAN FRANCISCO (Bloomberg) -- Ally Financial Inc. moved closer to repaying its government bailout as the auto lender reached agreement with creditors of its bankrupt mortgage unit. While financial terms of the accord weren't included in a statement today from Ally , the company said it will be insulated from private claims against its Residential Capital LLC mortgage arm, once ranked among of the largest originators of subprime mortgages. The sum will be kept confidential until next week when debtors are expected to formally support the plan in court, Ally said. ResCap's bankruptcy has been one of the biggest sticking points as Ally seeks to sell shares to the public and pay back a $17.2 billion bailout received during the global credit crisis. Ally CEO Michael Carpenter has been selling assets to raise money and reiterated this month that an initial stock offering would be the best option. The accord is "a seminal moment for Ally" that will "put the issues related to the mortgage industry behind us," Carpenter said in the statement. The company will be free to concentrate on auto finance, where Ally said last year it was ranked No. 1 in combined sales and leasing, and its online bank. If approved, the agreement may head off the possibility that Ally must pay billions more than it budgeted to settle ResCap's debts, including those tied to bad mortgage bonds. ResCap filed for bankruptcy last year as defaults soared and investors demanded refunds. Refund payments The dispute concerns guarantees or "representations and warranties" given to investors on bonds backed by mortgages that ResCap created. Such bonds typically assure buyers they can get refunds if the home loans are later found to be based on faulty data about borrowers or the properties. Defaults on subprime home loans reached record levels during the credit crisis, causing hundreds of mortgage firms to collapse. From 2004 to 2007, a ResCap predecessor issued $197.8 billion in non-agency mortgage bonds, according to Inside Mortgage Finance, an industry publication based in Bethesda, Md. The lender, whose brands included the Ditech online mortgage business, reported more than $14.5 billion in losses from the start of 2007 to the end of 2009. At the time of the filing, Ally proposed paying $750 million to cover such claims, in what Carpenter later called a "hostage payment." Creditors said in a court filing that the liabilities could be as much as $25 billion. Analysts at CreditSights Inc. once estimated Ally would have to pay $3 billion. Bailout package ResCap can repay its creditors using Ally's funds plus more than $4.5 billion from the sale of a mortgage-servicing business and a loan portfolio. Ally, formerly known as GMAC Inc., was owned by General Motors Corp. until 2006, when the automaker sold 51 percent to Cerberus Capital Management LP, a private-equity firm. GMAC almost collapsed under the weight of bad subprime mortgages in 2008. The U.S. took a 74 percent stake in return for a package of financial aid designed to keep credit flowing to the auto industry and preserve jobs. Ally can now turn its attention to the IPO. The company filed to go public in 2011 before putting the idea on hold until ResCap's fate was clear. Carpenter has said he favors a share sale as opposed to selling units such as its online bank. "We're very focused on what's the exit strategy for the U.S. Treasury," Carpenter said May 1 during the firm's quarterly earnings review. "If I had to put money on it right now, I would say the IPO is the best alternative." Capital plan To get there, Ally must resubmit its annual capital plan to the Federal Reserve and show how it will improve the planning process and increase its buffer against losses. The Fed rejected Ally's submission in March, citing "deficiencies." Carpenter publicly disputed the Fed's findings and Ally called the central bank's analysis "fundamentally flawed." Ally probably will need to convert $5.9 billion of preferred shares owned by the U.S. government into common equity to simplify its capital structure. The company said the Fed could force the conversion as one way to boost capital levels. Ally has collected about $7.6 billion through the sale of international units, and at least another $850 million through the sale of mortgage servicing rights, or contracts to collect payments and handle billing for home loans. The company needs regulatory approval to pass the proceeds onto taxpayers. Carpenter, who took over as CEO in November 2009 and filed for the IPO in March 2011, once predicted that an initial share sale could value Ally at $30 billion. That was before the bankruptcy and the asset sales. Creditors who have agreed to settle include Paulson and Co., MBIA Insurance Corp. and a group of securitization trusts suing for losses related to bad mortgages written by ResCap, Ally said in the statement. The settlement doesn't resolve claims against Ally that aren't related to ResCap's bankruptcy, including those brought by the Federal Housing Finance Agency and the Federal Deposit Insurance Corp., Ally said.]]></description>
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<title><![CDATA[GM's FandI products will carry vehicle brand names]]></title>
<link><![CDATA[http://www.autonews.com/article/20130513/RETAIL02/305139979/gms-fi-products-will-carry-vehicle-brand-names]]></link>
<guid>http://www.autonews.com/article/20130513/RETAIL02/305139979/gms-fi-products-will-carry-vehicle-brand-names</guid>
<pubDate><![CDATA[Mon, 13 May 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[General Motors is rolling out branded FandI products, starting this month with a pilot at its 200 or so dealerships in Ohio and going nationwide by year end. GM will offer extended-service contracts, tire-and-wheel coverage and guaranteed asset protection, or GAP, policies bearing the Buick, ...]]></description>
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<title><![CDATA[GM's FandI products will carry vehicle's brand]]></title>
<link><![CDATA[http://www.autonews.com/article/20130508/FINANCE_AND_INSURANCE/130509896/gms-fi-products-will-carry-vehicles-brand]]></link>
<guid>http://www.autonews.com/article/20130508/FINANCE_AND_INSURANCE/130509896/gms-fi-products-will-carry-vehicles-brand</guid>
<pubDate><![CDATA[Wed, 08 May 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[Editor's note: An earlier version of this story misspelled the name of Jim Kornas, director of extended protection plans at GM. General Motors is rolling out branded FandI products, starting this month with a pilot at its 200 or so dealerships in Ohio and going nationwide by year end. GM will offer ...]]></description>
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<title><![CDATA[Chrysler, GM wind down low-APR deals via Ally]]></title>
<link><![CDATA[http://www.autonews.com/article/20130508/FINANCE_AND_INSURANCE/130509898/chrysler-gm-wind-down-low-apr-deals-via-ally]]></link>
<guid>http://www.autonews.com/article/20130508/FINANCE_AND_INSURANCE/130509898/chrysler-gm-wind-down-low-apr-deals-via-ally</guid>
<pubDate><![CDATA[Wed, 08 May 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[Editor's note: An earlier version of this story incorrectly characterized the relationship between Chrysler Capital, Chrysler Group and Santander Consumer USA. Chrysler Group will start directing its low-APR loan incentives exclusively to Chrysler Capital, a full-service finance provider launched ...]]></description>
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<title><![CDATA[Opel will offer cheaper loans after taking finance in-house]]></title>
<link><![CDATA[http://europe.autonews.com/article/20130506/ANE/130509922/opel-will-offer-cheaper-loans-after-taking-finance-in-house]]></link>
<guid>http://europe.autonews.com/article/20130506/ANE/130509922/opel-will-offer-cheaper-loans-after-taking-finance-in-house</guid>
<pubDate><![CDATA[Mon, 06 May 2013 08:33:05 EDT]]></pubDate>
<description><![CDATA[RUESSELSHEIM, Germany (Reuters) -- General Motors' European unit, Opel/Vauxhall, expects to boost the proportion of cars sold on financing with the offer of cheaper loans and leasing deals now that it has taken its German banking license back in-house. Last month, GM Financial Company Inc. launched ...]]></description>
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<title><![CDATA[Ally profits rise, helped by auto finance]]></title>
<link><![CDATA[http://www.autonews.com/article/20130501/FINANCE_AND_INSURANCE/130509992/ally-profits-rise-helped-by-auto-finance]]></link>
<guid>http://www.autonews.com/article/20130501/FINANCE_AND_INSURANCE/130509992/ally-profits-rise-helped-by-auto-finance</guid>
<pubDate><![CDATA[Wed, 01 May 2013 10:41:25 EDT]]></pubDate>
<description><![CDATA[Ally Financial Inc. said its first-quarter net income more than doubled from a year ago to $1.1 billion, driven largely by a one-time gain from the sale of Ally's Canadian operations and higher profits in its auto finance business. The company said its core pretax earnings, which exclude various ...]]></description>
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<title><![CDATA[Ally Q1 profits boosted by auto finance business, one-time gains]]></title>
<link><![CDATA[http://www.autonews.com/article/20130501/RETAIL02/130509994/ally-q1-profits-boosted-by-auto-finance-business-one-time-gains]]></link>
<guid>http://www.autonews.com/article/20130501/RETAIL02/130509994/ally-q1-profits-boosted-by-auto-finance-business-one-time-gains</guid>
<pubDate><![CDATA[Wed, 01 May 2013 09:52:20 EDT]]></pubDate>
<description><![CDATA[Ally Financial Inc. said its first-quarter net income more than doubled from a year ago to $1.1 billion, driven largely by a one-time gain from the sale of Ally's Canadian operations and higher profits in its auto finance business. The company said its core pretax earnings, which exclude various ...]]></description>
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<title><![CDATA[GM, Chrysler take opposite tacks on captives]]></title>
<link><![CDATA[http://www.autonews.com/article/20130501/BLOG13/305019993/gm-chrysler-take-opposite-tacks-on-captives]]></link>
<guid>http://www.autonews.com/article/20130501/BLOG13/305019993/gm-chrysler-take-opposite-tacks-on-captives</guid>
<pubDate><![CDATA[Wed, 01 May 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[Does a car company need to own a captive finance company? While General Motors and Chrysler Group came off similar experiences of being partners with Ally Financial after their old captives went away during restructuring, they have reached different conclusions. GM is a "yes" for owning its own ...]]></description>
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<title><![CDATA[Chrysler Capital's first job: Leasing]]></title>
<link><![CDATA[http://www.autonews.com/article/20130501/FINANCE_AND_INSURANCE/305019991/chrysler-capitals-first-job-leasing]]></link>
<guid>http://www.autonews.com/article/20130501/FINANCE_AND_INSURANCE/305019991/chrysler-capitals-first-job-leasing</guid>
<pubDate><![CDATA[Wed, 01 May 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[DETROIT -- Chrysler Group expects more consumer auto leases this month when the newly formed Chrysler Capital begins operations as the automaker's preferred lender in the United States. But for dealers, Chrysler Capital is likely to supplement, rather than replace, existing lenders, at least ...]]></description>
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<title><![CDATA[Reaching millennials where they socialize]]></title>
<link><![CDATA[http://www.autonews.com/article/20130501/FINANCE_AND_INSURANCE/305019992/reaching-millennials-where-they-socialize]]></link>
<guid>http://www.autonews.com/article/20130501/FINANCE_AND_INSURANCE/305019992/reaching-millennials-where-they-socialize</guid>
<pubDate><![CDATA[Wed, 01 May 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[Young consumers armed with mobile technology are bringing new expectations to car buying. The finance and insurance office is no exception. Two experts will help you understand the attitudes and approaches of the so-called millennial generation during Automotive News FandI Week next month. Anthony ...]]></description>
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<title><![CDATA[Auto sectors add value, but growth rate slows]]></title>
<link><![CDATA[http://www.autonews.com/article/20130429/RETAIL/304299976/auto-sectors-add-value-but-growth-rate-slows]]></link>
<guid>http://www.autonews.com/article/20130429/RETAIL/304299976/auto-sectors-add-value-but-growth-rate-slows</guid>
<pubDate><![CDATA[Mon, 29 Apr 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[Publicly traded carmakers, suppliers and retailers added shareholder value in the first quarter, but at a slower pace than the past several years. For all three sectors, the Automotive News/PricewaterhouseCoopers (PwC) Shareholder Value Index was positive for the quarter. But for each group it was ...]]></description>
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<title><![CDATA[Chrysler Capital's first job: Leasing]]></title>
<link><![CDATA[http://www.autonews.com/article/20130429/RETAIL02/304299981/chrysler-capitals-first-job-leasing]]></link>
<guid>http://www.autonews.com/article/20130429/RETAIL02/304299981/chrysler-capitals-first-job-leasing</guid>
<pubDate><![CDATA[Mon, 29 Apr 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[DETROIT -- Chrysler Group expects more consumer auto leases next month when the newly formed Chrysler Capital begins operations as the automaker's preferred lender in the United States. But for dealers, Chrysler Capital is likely to supplement, rather than replace, existing lenders, at least ...]]></description>
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<title><![CDATA[U.S. transport chief nominee said to be Anthony Foxx, mayor of Charlotte, N.C.]]></title>
<link><![CDATA[http://www.autonews.com/article/20130428/OEM11/130429899/u-s-transport-chief-nominee-said-to-be-anthony-foxx-mayor-of]]></link>
<guid>http://www.autonews.com/article/20130428/OEM11/130429899/u-s-transport-chief-nominee-said-to-be-anthony-foxx-mayor-of</guid>
<pubDate><![CDATA[Sun, 28 Apr 2013 19:01:51 EDT]]></pubDate>
<description><![CDATA[WASHINGTON (Bloomberg) -- President Barack Obama will nominate Charlotte, N.C., Mayor Anthony Foxx , a Democrat, to lead the Transportation Department, according to a White House official who spoke on condition of anonymity. The nomination will be made tomorrow, said the official. Foxx, a two-term ...]]></description>
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<title><![CDATA[GM's Akerson, Ally's Carpenter have pay, bonuses frozen by U.S.]]></title>
<link><![CDATA[http://www.autonews.com/article/20130427/OEM02/130429901/gms-akerson-allys-carpenter-have-pay-bonuses-frozen-by-u-s]]></link>
<guid>http://www.autonews.com/article/20130427/OEM02/130429901/gms-akerson-allys-carpenter-have-pay-bonuses-frozen-by-u-s</guid>
<pubDate><![CDATA[Sat, 27 Apr 2013 09:22:47 EDT]]></pubDate>
<description><![CDATA[WASHINGTON (Bloomberg) -- The U.S. Treasury Department froze some 2013 pay for top executives at General Motors Co. and Ally Financial Inc., two firms yet to repay money received under special bailout terms during the financial crisis. Compensation for the chief executive officers of the two firms ...]]></description>
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<title><![CDATA[GM changes Akerson's pay mix, saying he may retire within 3 years]]></title>
<link><![CDATA[http://europe.autonews.com/article/20130426/ANE/304269973/gm-changes-akersons-pay-mix-saying-he-may-retire-within-3-years]]></link>
<guid>http://europe.autonews.com/article/20130426/ANE/304269973/gm-changes-akersons-pay-mix-saying-he-may-retire-within-3-years</guid>
<pubDate><![CDATA[Fri, 26 Apr 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[DETROIT (Bloomberg) -- General Motors Co. CEO Dan Akerson's compensation mix was changed in 2012 to accommodate the possibility he may retire before his long-term restricted stock vests in three years, the company said. "We certainly wouldn't speculate on what he will actually do -- that's up to ...]]></description>
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<title><![CDATA[GM changes Akerson's pay mix, saying he may retire within 3 years]]></title>
<link><![CDATA[http://www.autonews.com/article/20130425/OEM02/130429928/gm-changes-akersons-pay-mix-saying-he-may-retire-within-3-years]]></link>
<guid>http://www.autonews.com/article/20130425/OEM02/130429928/gm-changes-akersons-pay-mix-saying-he-may-retire-within-3-years</guid>
<pubDate><![CDATA[Thu, 25 Apr 2013 14:10:45 EDT]]></pubDate>
<description><![CDATA[DETROIT (Bloomberg) -- General Motors Co. CEO Dan Akerson's compensation mix was changed in 2012 to accommodate the possibility he may retire before his long-term restricted stock vests in three years, the company said. "We certainly wouldn't speculate on what he will actually do -- that's up to ...]]></description>
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<title><![CDATA[Carmaker ties boost lending at Chase, Wells Fargo]]></title>
<link><![CDATA[http://www.autonews.com/article/20130417/FINANCE_AND_INSURANCE/130419917/carmaker-ties-boost-lending-at-chase-wells-fargo]]></link>
<guid>http://www.autonews.com/article/20130417/FINANCE_AND_INSURANCE/130419917/carmaker-ties-boost-lending-at-chase-wells-fargo</guid>
<pubDate><![CDATA[Wed, 17 Apr 2013 07:54:33 EDT]]></pubDate>
<description><![CDATA[Expanding retail partnerships with automakers are paying off for two of the biggest auto lenders. Wells Fargo Dealer Services saw record originations of $6.8 billion in the first quarter, a 10 percent increase from a year earlier, parent Wells Fargo and Co. reported. Meanwhile, at Chase Auto ...]]></description>
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<title><![CDATA[Who's the No. 1 lender? Gimme an A #8230;]]></title>
<link><![CDATA[http://www.autonews.com/article/20130417/BLOG13/304189999/whos-the-no-1-lender-gimme-an-a]]></link>
<guid>http://www.autonews.com/article/20130417/BLOG13/304189999/whos-the-no-1-lender-gimme-an-a</guid>
<pubDate><![CDATA[Wed, 17 Apr 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[Who's No. 1 in auto finance? It depends on who's doing the telling. Wells Fargo and Co. said in its first-quarter conference call last week that its Wells Fargo Dealer Services is now "the industry's leading auto lender." That will be news to Ally Financial Inc., which claims it's been No. 1 for ...]]></description>
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<title><![CDATA[Dingell, Ford unite on Europe]]></title>
<link><![CDATA[http://www.autonews.com/article/20130415/OEM01/304159985/dingell-ford-unite-on-europe]]></link>
<guid>http://www.autonews.com/article/20130415/OEM01/304159985/dingell-ford-unite-on-europe</guid>
<pubDate><![CDATA[Mon, 15 Apr 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[WASHINGTON -- Ford Motor Co., which wants the federal government to align U.S. vehicle standards with those of the European Union, has enlisted a longtime ally in its campaign: U.S. Rep. John Dingell, the 29-term Michigan Democrat known for his ardent backing of the domestic auto industry. Such a ...]]></description>
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<title><![CDATA[Ford, allies in Congress make case for EU trade deal]]></title>
<link><![CDATA[http://www.autonews.com/article/20130410/GLOBAL/130419988/ford-allies-in-congress-make-case-for-eu-trade-deal]]></link>
<guid>http://www.autonews.com/article/20130410/GLOBAL/130419988/ford-allies-in-congress-make-case-for-eu-trade-deal</guid>
<pubDate><![CDATA[Wed, 10 Apr 2013 16:17:06 EDT]]></pubDate>
<description><![CDATA[WASHINGTON -- Ford Motor Co., which wants the federal government to align U.S. vehicle standards with those of the European Union, has enlisted a longtime ally in its campaign: U.S. Rep. John Dingell, the 29-term Michigan Democrat known for his ardent backing of the domestic auto industry. Such a ...]]></description>
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<title><![CDATA[Ford, allies in U.S. Congress make case for EU trade deal]]></title>
<link><![CDATA[http://europe.autonews.com/article/20130410/ANE/304109792/ford-allies-in-u-s-congress-make-case-for-eu-trade-deal]]></link>
<guid>http://europe.autonews.com/article/20130410/ANE/304109792/ford-allies-in-u-s-congress-make-case-for-eu-trade-deal</guid>
<pubDate><![CDATA[Wed, 10 Apr 2013 16:17:06 EDT]]></pubDate>
<description><![CDATA[WASHINGTON -- Ford Motor Co., which wants the U.S. government to align vehicle standards with those of the European Union, has enlisted a longtime ally in its campaign: U.S. politician John Dingell, who is known for his ardent backing of the domestic auto industry. Such a deal with Europe would cut ...]]></description>
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<title><![CDATA[How the Fed fueled surge in subprime loans]]></title>
<link><![CDATA[http://www.autonews.com/article/20130410/FINANCE_AND_INSURANCE/304109994/how-the-fed-fueled-surge-in-subprime-loans]]></link>
<guid>http://www.autonews.com/article/20130410/FINANCE_AND_INSURANCE/304109994/how-the-fed-fueled-surge-in-subprime-loans</guid>
<pubDate><![CDATA[Wed, 10 Apr 2013 00:01:00 EDT]]></pubDate>
<description><![CDATA[JASPER, Ala. (Reuters) -- Thanks largely to the U.S. Federal Reserve, Jeffrey Nelson was able to put up a shotgun as down payment on a car. Money was tight last year for the school-bus driver and neighborhood constable in Jasper, Ala., a beaten-down town of 14,000 people. One car had already been ...]]></description>
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