Ally Q2 net income falls on virus impact

Net income fell nearly 60 percent for Ally Financial Inc., one of the largest U.S. auto lenders, in the second quarter as the lender absorbed further impact from the coronavirus pandemic. Volatile used-vehicle values, record-high unemployment and more than a million consumers exiting forbearance protections were among the reasons the bank allocated more funds to shield from potential auto loan losses for the second half of the year.