U.S. Trims Stake in Ally Again

The U.S. Dept. of the Treasury says it reduced its holding in Ally Financial Inc. to about 13.8% from 16% in August.

The reduction involved the sale of 8.9 million shares, which generated $219 million for taxpayers, according to the department.

The U.S. invested $17.2 billion to bail out Ally during the financial crisis, gaining a 74% stake in the lender. The department has recovered about $18 billion so far by gradually selling off its shares. Reports say the Treasury Dept. may shed its entire investment by year-end.