US subpoenas GM Financial over subprime loans

Source: GM Financial GM Financial home page

Source: GM Financial
GM Financial home page

General Motors Financial received a subpoena from the U.S. Department of Justice requesting information about the company’s use of subprime automobile loan contracts, the GM Financial said in a regulatory filling on Monday.

The GM Financial was order to produce documents dating back to 2007 relating to the underwriting criteria uses to originate the contracts.

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