In a filing with the Securities and Exchange Commission on Monday, General Motors Financial Co. said it has received a subpoena from the U.S. Department of Justice for documents in connection with subprime automobile loan contracts, The Associated Press reports.
In its Form 8-K filing, GM Financial—General Motors Co.’s financing unit—said that the subpoena was served on July 28. It seeks information on the firm’s and its subsidiaries’ and affiliates’ origination and securitization of subprime automobile loan contracts since 2007 for an investigation that could lead to civil proceedings for potential violations of the 1989 Financial Institutions Reform, Recovery and Enforcement Act (FIRREA).
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