GM Financial’s subprime auto loans are the target of a subpoena from the U.S. Justice Department served last month. The documents requested go as far back as 2007, the company reported in a Securities and Exchange Commission filing.
Federal investigators served General Motors financial arm on July 27 with a subpoena seeking documents involving origination and securitization.
Company executives have confirmed the request, but quickly point out that no allegations or charges have been filed. (more…)