​Ally Financial Craters After Auto Lender Reveals Delinquencies, Charge-Offs Are Surging – Tyler Durden

Ally Financial Craters After Auto Lender Reveals Delinquencies, Charge-Offs Are Surging Yesterday we said that the latest consumer credit numbers, which saw a bizarre surge in credit card debt as consumers – their savings now depleted and at record low levels – now have to charge their credit card for every day staples, were the “last hurrah” for consumption in the US. It didn’t take long to get confirmation, when first JPMorgan shocked the market when its president Daniel Pinto warned that the bank will not hit its (or the Wall Street consensus) previous Net Interest Income target, sending the…  — Continue at ZeroHedge News : Read More