Ally Financial repays $5.9 billion in bailout aid: Treasury

Reuters
Ally Financial sign is seen on a building in Charlotte, North Carolina
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An Ally Financial sign is seen on a building in Charlotte, North Carolina May 1, 2012. REUTERS/Chris …

WASHINGTON (Reuters) - Auto lender Ally Financial Inc has repaid the U.S. government $5.9 billion in federal bailout aid it received during the financial crisis, the Treasury Department said on Wednesday.

With the payment, the government has received $12.3 billion from Ally, more than 70 percent of the total aid provided by the government, the Treasury said in a news release.

Ally, the former lending arm of General Motors , received a $17.2 billion bailout during the financial crisis. Last week, the Federal Reserve approved the company's 2013 capital plan, clearing the way for repayment to Treasury.

(Reporting by Patrick Temple-West; Editing by Leslie Adler)

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