Are more Banks on the Move?

Ally said to be Shopping Mortgage Unit

One of the financial institutions that are party to the reported settlement agreement with the attorneys general of the majority of the states is reportedly on the auction block. According to Bloomberg News, Ally Financial is talking with private equity firms about selling its mortgage unit, Residential Capital LCC , through a pre-package bankruptcy. Any sale of the company would be complicated by its recent financial history. The company was founded as General Motors Acceptance Corporation (GMAC…)

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