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GM Financial subpoenaed as subprime auto probe widens
2014-10-25 13:17:02| Automakers - Topix.net
Investigations of the subprime auto finance business are spreading as General Motors said its lending arm received additional subpoenas seeking details of its underwriting practices. GM Financial, which specializes in loans to people with spotty credit, said in a regulatory filing Thursday that attorneys general of states it didn't identify and other government offices are demanding documents related to its business of making car loans and pooling them into bonds that are sold to investors.
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Category:Automotive