Ally Financial’s CEO made it very clear that the company is "absolutely not" looking to sell its core U.S. auto lending business in the wake of Monday’s announcement that its Residential Capital mortgage unit filed for bankruptcy protection.In fact, “the actions position Ally very strongly for the future,” CEO Michael Carpenter said in a conference call on Tuesday.The…See More

Indirect lender Tidalwave Finance Corp. has received an increase in its revolving credit line -- to $6 million -- from Sunwest Bank.Tidalwave,which originates loans to auto dealers in Southern California, was the first client of the Irvine, Calif.-based bank's Specialty Finance Group, a sector that provides rediscount lines of credit to lenders. "The economic pressures that…See More

Indirect lender Tidalwave Finance Corp. has received an increase in its revolving credit line -- to $6 million -- from Sunwest Bank.Tidalwave,which originates loans to auto dealers in Southern California, was the first client of the Irvine, Calif.-based bank's Specialty Finance Group, a sector that provides rediscount lines of credit to lenders. "The economic pressures that…See More