| NEW YORK
NEW YORK Oct 23 GM Financial, the in-house
financing arm of General Motors Co, said on Thursday it
received subpoenas in September from state attorneys general and
other authorities over its subprime auto lending and
In July, the auto lender received a subpoena from the U.S.
Department of Justice over similar issues.
GM Financial issued more securities backed by subprime auto
loans between the start of the year and July than any other
lender besides Santander Consumer USA Holdings Inc,
according to Standard & Poor's.
The company made the disclosure in a quarterly finding with
the U.S. Securities and Exchange Commission.
In recent months regulators have taken a greater interest in
the auto finance market more generally and are starting to
examine the links between banks and auto finance companies.
(Reporting by Peter Rudegeair in New York; editing by Gunna