Ally Financial Inc., which is 74 percent owned by the U.S. government, said yesterday that it repaid $2.9 billion of debt it issued under a financial crisis-era guarantee program by the Federal Deposit Insurance Corp., the Wall Street Journal reported today. The Detroit-based auto lender's move leaves $4.5 billion of debt outstanding that it issued under the FDIC's Temporary Liquidity Guarantee Program, which was intended to spur bank lending during the crisis. It plans to repay that amount in December.
