Ally Financial settles mortgage securities probe for $52 million

Ally Financial Inc. said late Monday it has settled a federal probe into its residential mortgage-backed securities business for $52 million. Ally said the settlement resolves "all outstanding investigations and potential claims" by the Department of Justice into Ally's former mortgage unit Residential Capital LLC. The company said it reserved the full amount for the settlement in the third quarter. Ally shares were unchanged at $19.47 after hours....(read more)

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