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Finance Receivables and Loans, Net (Tables)
 6 Months Ended
Jun. 30, 2024
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
The composition of finance receivables and loans reported at amortized cost basis was as follows.
($ in millions)June 30, 2024December 31, 2023
Consumer automotive (a)$83,528 $84,320 
Consumer mortgage
Mortgage Finance (b)17,803 18,442 
Mortgage — Legacy (c)205 225 
Total consumer mortgage18,008 18,667 
Consumer other
Credit Card2,049 1,990 
Total consumer other2,049 1,990 
Total consumer103,585 104,977 
Commercial
Commercial and industrial
Automotive20,551 18,700 
Other8,437 9,712 
Commercial real estate6,210 6,050 
Total commercial35,198 34,462 
Total finance receivables and loans (d) (e)$138,783 $139,439 
(a)Certain finance receivables and loans are included in fair value hedging relationships. Refer to Note 19 for additional information.
(b)Includes loans originated as interest-only mortgage loans of $2 million at both June 30, 2024, and December 31, 2023, of which all have exited the interest-only period.
(c)Includes loans originated as interest-only mortgage loans of $12 million and $13 million at June 30, 2024, and December 31, 2023, respectively, of which all have exited the interest-only period.
(d)Totals include net unearned income, unamortized premiums and discounts, and deferred fees and costs of $2.3 billion at both June 30, 2024, and December 31, 2023.
(e)Totals do not include accrued interest receivable, which was $846 million and $853 million at June 30, 2024, and December 31, 2023, respectively. Accrued interest receivable is included in other assets on our Condensed Consolidated Balance Sheet. Billed interest on our credit card loans is included within finance receivables and loans, net.
Schedule of Allowance for Credit Losses on Financing Receivables
The following tables present an analysis of the activity in the allowance for loan losses on finance receivables and loans for the three and six months ended June 30, 2024, and 2023, respectively.
Three months ended June 30, 2024 ($ in millions)
Consumer automotiveConsumer mortgageConsumer otherCommercialTotal
Allowance at April 1, 2024$3,050 $21 $291 $188 $3,550 
Charge-offs (a)(605)— (70)(1)(676)
Recoveries227 1 8 5 241 
Net charge-offs(378)1 (62)4 (435)
Provision for credit losses383 (3)73 4 457 
Allowance at June 30, 2024
$3,055 $19 $302 $196 $3,572 
(a)Refer to Note 1 to the Consolidated Financial Statements in our 2023 Annual Report on Form 10-K for information regarding our charge-off policies.
Six months ended June 30, 2024 ($ in millions)
Consumer automotiveConsumer mortgageConsumer otherCommercialTotal
Allowance at January 1, 2024$3,083 $21 $293 $190 $3,587 
Charge-offs (a)(1,293)(1)(138)(2)(1,434)
Recoveries438 2 14 6 460 
Net charge-offs(855)1 (124)4 (974)
Write-downs from transfers to held-for-sale (b)(5)— — — (5)
Provision for credit losses832 (3)133 2 964 
Allowance at June 30, 2024
$3,055 $19 $302 $196 $3,572 
(a)Refer to Note 1 to the Consolidated Financial Statements in our 2023 Annual Report on Form 10-K for information regarding our charge-off policies.
(b)Consumer automotive includes a $5 million reduction of allowance from the completion of a retail securitization transaction during the six months ended June 30, 2024, resulting in the deconsolidation of the assets and liabilities from our Condensed Consolidated Balance Sheet.
Three months ended June 30, 2023 ($ in millions)
Consumer automotiveConsumer mortgageConsumer other (a)CommercialTotal
Allowance at April 1, 2023$3,022 $23 $455 $251 $3,751 
Charge-offs (b)(496)(2)(70)(61)(629)
Recoveries219 3 7 1 230 
Net charge-offs(277)1 (63)(60)(399)
Provision for credit losses (c)320 (2)84 27 429 
Other(1)1 — — — 
Allowance at June 30, 2023
$3,064 $23 $476 $218 $3,781 
(a)Excludes $2 million of finance receivables and loans at April 1, 2023, for which we have elected the fair value option and incorporate no allowance for loan losses.
(b)Refer to Note 1 to the Consolidated Financial Statements in our 2023 Annual Report on Form 10-K for information regarding our charge-off policies.
(c)Excludes $2 million of benefit for credit losses related to our reserve for unfunded commitments. The liability related to the reserve for unfunded commitments is included in accrued expenses and other liabilities on our Condensed Consolidated Balance Sheet.
Six months ended June 30, 2023 ($ in millions)
Consumer automotiveConsumer mortgageConsumer other (a)CommercialTotal
Allowance at January 1, 2023$3,020 $27 $426 $238 $3,711 
Charge-offs (b)(1,032)(3)(134)(61)(1,230)
Recoveries404 5 12 1 422 
Net charge-offs(628)2 (122)(60)(808)
Provision for credit losses (c)673 (6)172 39 878 
Other(1)— — 1 — 
Allowance at June 30, 2023
$3,064 $23 $476 $218 $3,781 
(a)Excludes $3 million of finance receivables and loans at January 1, 2023, for which we have elected the fair value option and incorporate no allowance for loan losses.
(b)Refer to Note 1 to the Consolidated Financial Statements in our 2023 Annual Report on Form 10-K for information regarding our charge-off policies.
(c)Excludes $5 million of benefit for credit losses related to our reserve for unfunded commitments. The liability related to the reserve for unfunded commitments is included in accrued expenses and other liabilities on our Condensed Consolidated Balance Sheet.
Schedule of Sales of Financing Receivables and Loans
The following table presents sales of finance receivables and loans and transfers of finance receivables and loans from held-for-investment to held-for-sale based on net carrying value.
Three months ended June 30,Six months ended June 30,
($ in millions)2024202320242023
Consumer automotive$— $— $1,108 $— 
Consumer mortgage117 — 117 1 
Commercial120 — 165 — 
Total sales and transfers$237 $— $1,390 $1 
Schedule of Purchases of Financing Receivables and Loans
The following table presents purchases of finance receivables and loans based on unpaid principal balance at the time of purchase.
Three months ended June 30,Six months ended June 30,
($ in millions)2024202320242023
Consumer automotive$594 $1,080 $1,575 $1,838 
Consumer mortgage4 5 8 7 
Commercial— — — 7 
Total purchases of finance receivables and loans$598 $1,085 $1,583 $1,852 
Schedule of Financing Receivables, Nonaccrual Status
The following tables present the amortized cost of our finance receivables and loans on nonaccrual status. All consumer or commercial finance receivables and loans that were 90 days or more past due were on nonaccrual status as of June 30, 2024, and December 31, 2023. Refer to Note 1 to the Consolidated Financial Statements in our 2023 Annual Report on Form 10-K for additional information on our accounting policy for finance receivables and loans on nonaccrual status.
June 30, 2024
($ in millions)Nonaccrual status at Jan. 1, 2024Nonaccrual status at Apr. 1, 2024Nonaccrual statusNonaccrual with no allowance (a)
Consumer automotive$1,129 $1,010 $978 $492 
Consumer mortgage
Mortgage Finance41 33 32 22 
Mortgage — Legacy13 12 9 9 
Total consumer mortgage54 45 41 31 
Consumer other
Credit Card92 94 80 — 
Total consumer other92 94 80 — 
Total consumer1,275 1,149 1,099 523 
Commercial
Commercial and industrial
Automotive18 5 18 5 
Other98 97 96 4 
Commercial real estate3 1 2 2 
Total commercial119 103 116 11 
Total finance receivables and loans (b)$1,394 $1,252 $1,215 $534 
(a)Represents a component of nonaccrual status at end of period.
(b)We recorded interest income from cash payments associated with finance receivables and loans on nonaccrual status of $5 million and $10 million for the three months and six months ended June 30, 2024, respectively.
December 31, 2023
($ in millions)Nonaccrual status at Jan. 1, 2023Nonaccrual status at Apr. 1, 2023Nonaccrual statusNonaccrual with no allowance (a)
Consumer automotive$1,187 $1,110 $1,129 $531 
Consumer mortgage
Mortgage Finance34 34 41 21 
Mortgage — Legacy15 15 13 12 
Total consumer mortgage49 49 54 33 
Consumer other
Personal Lending (b)13 12 — — 
Credit Card43 54 92 — 
Total consumer other56 66 92 — 
Total consumer1,292 1,225 1,275 564 
Commercial
Commercial and industrial
Automotive5 — 18 13 
Other157 159 98 5 
Commercial real estate— — 3 3 
Total commercial162 159 119 21 
Total finance receivables and loans (c)$1,454 $1,384 $1,394 $585 
(a)Represents a component of nonaccrual status at end of period.
(b)Personal Lending finance receivables and loans were transferred to loans held-for-sale, and were included in assets of operations held-for-sale on our Condensed Consolidated Balance Sheet at December 31, 2023. We closed the sale of Ally Lending on March 1, 2024. Refer to Note 2 for additional information.
(c)We recorded interest income from cash payments associated with finance receivables and loans on nonaccrual status of $4 million and $7 million for the three months and six months ended June 30, 2023, respectively.
Schedule of Financing Receivable Credit Quality Indicators
The following tables present the amortized cost basis of our consumer finance receivables and loans by credit quality indicator based on delinquency status and origination year.
Origination yearRevolving loans converted to term
June 30, 2024 ($ in millions)
202420232022202120202019 and priorRevolving loansTotal
Consumer automotive
Current$16,472 $25,093 $19,143 $11,071 $4,441 $3,169 $— $— $79,389 
30–59 days past due114 675 907 616 213 202 — — 2,727 
60–89 days past due28 259 418 262 90 74 — — 1,131 
90 or more days past due7 95 152 98 36 42 — — 430 
Total consumer automotive (a)16,621 26,122 20,620 12,047 4,780 3,487 — — 83,677 
Consumer mortgage
Mortgage Finance
Current19 68 2,105 10,093 1,787 3,647 — — 17,719 
30–59 days past due— — 7 15 — 21 — — 43 
60–89 days past due— — 4 4 — 6 — — 14 
90 or more days past due— — 1 5 2 19 — — 27 
Total Mortgage Finance19 68 2,117 10,117 1,789 3,693 — — 17,803 
Mortgage — Legacy
Current— — — — — 48 129 16 193 
30–59 days past due— — — — — 3 1 — 4 
90 or more days past due— — — — — 5 1 2 8 
Total Mortgage — Legacy— — — — — 56 131 18 205 
Total consumer mortgage19 68 2,117 10,117 1,789 3,749 131 18 18,008 
Consumer other
Credit Card
Current— — — — — — 1,910 — 1,910 
30–59 days past due— — — — — — 33 — 33 
60–89 days past due— — — — — — 29 — 29 
90 or more days past due— — — — — — 77 — 77 
Total Credit Card— — — — — — 2,049 — 2,049 
Total consumer other— — — — — — 2,049 — 2,049 
Total consumer$16,640 $26,190 $22,737 $22,164 $6,569 $7,236 $2,180 $18 $103,734 
(a)Certain consumer automotive loans are included in fair value hedging relationships. The amortized cost excludes a liability of $149 million related to basis adjustments for loans in closed portfolios with active hedges under the portfolio layer method at June 30, 2024. These basis adjustments would be allocated to the amortized cost of specific loans within the pool if the hedge was dedesignated. Refer to Note 19 for additional information.
Origination yearRevolving loans converted to term
December 31, 2023 ($ in millions)
202320222021202020192018 and priorRevolving loansTotal
Consumer automotive
Current$30,677 $23,699 $14,209 $6,132 $3,306 $1,876 $— $— $79,899 
30–59 days past due539 1,041 739 270 181 122 — — 2,892 
60–89 days past due170 443 303 109 68 45 — — 1,138 
90 or more days past due64 167 122 44 32 28 — — 457 
Total consumer automotive (a)31,450 25,350 15,373 6,555 3,587 2,071 — — 84,386 
Consumer mortgage
Mortgage Finance
Current152 2,170 10,374 1,836 747 3,073 — — 18,352 
30–59 days past due1 8 14 3 3 20 — — 49 
60–89 days past due— 2 4 3 — 5 — — 14 
90 or more days past due— 1 4 1 2 19 — — 27 
Total Mortgage Finance153 2,181 10,396 1,843 752 3,117 — — 18,442 
Mortgage — Legacy
Current— — — — — 51 142 17 210 
30–59 days past due— — — — — 3 — 1 4 
60–89 days past due— — — — — 1 1 — 2 
90 or more days past due— — — — — 6 2 1 9 
Total Mortgage — Legacy— — — — — 61 145 19 225 
Total consumer mortgage153 2,181 10,396 1,843 752 3,178 145 19 18,667 
Consumer other
Credit Card
Current— — — — — — 1,828 — 1,828 
30–59 days past due— — — — — — 39 — 39 
60–89 days past due— — — — — — 34 — 34 
90 or more days past due— — — — — — 89 — 89 
Total Credit Card— — — — — — 1,990 — 1,990 
Total consumer other (b)— — — — — — 1,990 — 1,990 
Total consumer$31,603 $27,531 $25,769 $8,398 $4,339 $5,249 $2,135 $19 $105,043 
(a)Certain consumer automotive loans are included in fair value hedging relationships. The amortized cost excludes a liability of $66 million related to basis adjustments for loans in closed portfolios with active hedges under the portfolio layer method at December 31, 2023. These basis adjustments would be allocated to the amortized cost of specific loans within the pool if the hedge was dedesignated. Refer to Note 19 for additional information.
(b)Excludes Personal Lending finance receivables and loans, which were transferred to loans held-for-sale, and were included in assets of operations held-for-sale on our Condensed Consolidated Balance Sheet at December 31, 2023. We closed the sale of Ally Lending on March 1, 2024. Refer to Note 2 for additional information.
The following tables present the amortized cost basis of our commercial finance receivables and loans by credit quality indicator based on risk rating and origination year.
Origination yearRevolving loans converted to term
June 30, 2024 ($ in millions)
202420232022202120202019 and priorRevolving loansTotal
Commercial
Commercial and industrial
Automotive
Pass$343 $416 $420 $146 $80 $64 $17,869 $— $19,338 
Special mention5 23 34 22 3 12 1,045 — 1,144 
Substandard— — — — — — 69 — 69 
Total automotive348 439 454 168 83 76 18,983 — 20,551 
Other
Pass335 298 358 300 193 302 5,183 176 7,145 
Special mention— — 362 194 173 111 153 19 1,012 
Substandard— 27 — 44 57 84 21 11 244 
Doubtful— — — — — 26 10 — 36 
Total other335 325 720 538 423 523 5,367 206 8,437 
Commercial real estate
Pass370 1,018 1,330 1,099 855 1,291 100 27 6,090 
Special mention1 12 61 22 5 17 — — 118 
Substandard— — 1 — — — — — 1 
Doubtful— — — — — 1 — — 1 
Total commercial real estate371 1,030 1,392 1,121 860 1,309 100 27 6,210 
Total commercial$1,054 $1,794 $2,566 $1,827 $1,366 $1,908 $24,450 $233 $35,198 
Origination yearRevolving loans converted to term
December 31, 2023 ($ in millions)
202320222021202020192018 and priorRevolving loansTotal
Commercial
Commercial and industrial
Automotive
Pass$509 $512 $165 $97 $58 $22 $16,446 $— $17,809 
Special mention6 7 30 1 1 14 723 — 782 
Substandard— 1 — — — — 44 — 45 
Doubtful— — — — — 1 63 — 64 
Total automotive515 520 195 98 59 37 17,276 — 18,700 
Other
Pass331 646 343 405 266 180 6,202 173 8,546 
Special mention— 208 188 206 51 85 198 25 961 
Substandard— — 46 3 — 83 25 11 168 
Doubtful— — — — — 26 10 — 36 
Loss— — — — 1 — — — 1 
Total other331 854 577 614 318 374 6,435 209 9,712 
Commercial real estate
Pass971 1,452 1,129 884 607 811 100 26 5,980 
Special mention3 16 28 1 18 — — — 66 
Substandard— 3 — — — 1 — — 4 
Total commercial real estate974 1,471 1,157 885 625 812 100 26 6,050 
Total commercial$1,820 $2,845 $1,929 $1,597 $1,002 $1,223 $23,811 $235 $34,462 
The following tables present gross charge-offs of our finance receivables and loans for each portfolio class by origination year during the six months ended June 30, 2024, and during the year ended December 31, 2023, respectively. Refer to Note 1 to the Consolidated Financial Statements in our 2023 Annual Report on Form 10-K for additional information on our charge-off policy.
Origination yearRevolving loans converted to term
June 30, 2024 ($ in millions)
202420232022202120202019 and priorRevolving loansTotal
Consumer automotive (a)$13 $362 $486 $272 $74 $86 $— $— $1,293 
Consumer mortgage
Mortgage Finance— — — 1 — — — — 1 
Total consumer mortgage— — — 1 — — — — 1 
Consumer other
Credit Card— — — — — — 130 8 138 
Total consumer other— — — — — — 130 8 138 
Total consumer13 362 486 273 74 86 130 8 1,432 
Commercial
Commercial and industrial
Automotive— — — — — 1 1 — 2 
Total commercial— — — — — 1 1 — 2 
Total finance receivables and loans$13 $362 $486 $273 $74 $87 $131 $8 $1,434 
(a)Excludes $5 million of write-downs from transfers to held-for-sale from the completion of a retail securitization transaction during the six months ended June 30, 2024, resulting in the deconsolidation of the assets and liabilities from our Condensed Consolidated Balance Sheet.
Origination yearRevolving loans converted to term
December 31, 2023 ($ in millions)
202320222021202020192018 and priorRevolving loansTotal
Consumer automotive (a)$225 $952 $651 $194 $142 $120 $— $— $2,284 
Consumer mortgage
Mortgage Finance— — — — — 1 — — 1 
Mortgage — Legacy— — — — — 2 — — 2 
Total consumer mortgage— — — — — 3 — — 3 
Consumer other
Personal Lending (b)14 82 29 3 — — — — 128 
Credit Card— — — — — — 165 10 175 
Total consumer other14 82 29 3 — — 165 10 303 
Total consumer239 1,034 680 197 142 123 165 10 2,590 
Commercial
Commercial and industrial
Automotive— — — — — 5 19 — 24 
Other— — — — 79 23 4 — 106 
Total commercial— — — — 79 28 23 — 130 
Total finance receivables and loans$239 $1,034 $680 $197 $221 $151 $188 $10 $2,720 
(a)Excludes $41 million of write-downs from transfers to held-for-sale from the sales of retained interests related to securitizations during 2023, resulting in the deconsolidation of the assets and liabilities from our Condensed Consolidated Balance Sheet. Refer to Note 11 to the Consolidated Financial Statements in our 2023 Annual Report on Form 10-K for additional information.
(b)Excludes $174 million of write-downs from the transfer to held-for-sale related to Personal Lending. Refer to Note 2 for additional information.
Schedule of Past Due Financing Receivables
The following table presents an analysis of our past-due commercial finance receivables and loans recorded at amortized cost basis.
($ in millions)30–59 days past due60–89 days past due90 days or more past dueTotal past dueCurrentTotal finance receivables and loans
June 30, 2024
Commercial
Commercial and industrial
Automotive$— $— $— $— $20,551 $20,551 
Other— — — — 8,437 8,437 
Commercial real estate— 1 — 1 6,209 6,210 
Total commercial$— $1 $— $1 $35,197 $35,198 
December 31, 2023
Commercial
Commercial and industrial
Automotive$— $— $— $— $18,700 $18,700 
Other2 — 3 5 9,707 9,712 
Commercial real estate— — — — 6,050 6,050 
Total commercial$2 $— $3 $5 $34,457 $34,462 
Schedule of Loan Modifications
The following tables present the amortized cost basis of loans that were modified subsequent to origination during the three months and six months ended June 30, 2024, and 2023, respectively, for each portfolio segment, by modification type. For additional information on loan modification types in scope of this disclosure, refer to Note 1 to the Consolidated Financial Statements in our 2023 Annual Report on Form 10-K. The below tables exclude consumer mortgage finance receivables and loans currently enrolled in a trial modification program. Trial modifications generally represent a three-month period during which the borrower makes monthly payments under the anticipated modified payment terms. If the borrower successfully completes the trial loan modification program, the contractual terms of the loan are updated and the modification is considered permanent. As of June 30, 2024, and December 31, 2023, there were $1 million and $5 million of consumer mortgage finance receivables and loans in a trial modification program, respectively.
Payment extensions
Three months ended June 30, 2024
($ in millions)
Payment deferralsContractual maturity extensionsPrincipal forgivenessInterest rate concessionsCombinationTotal (a)
Consumer automotive$— $97 $2 $— $— $99 
Consumer mortgage
Mortgage Finance— 1 — — — 1 
Total consumer mortgage— 1 — — — 1 
Consumer other
Credit Card— — — 5 — 5 
Total consumer other— — — 5 — 5 
Total consumer— 98 2 5 — 105 
Commercial
Commercial and industrial
Automotive11 — — — — 11 
Total commercial11 — — — — 11 
Total finance receivables and loans$11 $98 $2 $5 $— $116 
Payment extensions
Six months ended June 30, 2024
($ in millions)
Payment deferralsContractual maturity extensionsPrincipal forgivenessInterest rate concessionsCombinationTotal (a)
Consumer automotive$— $190 $3 $— $— $193 
Consumer mortgage
Mortgage Finance— 1 — — — 1 
Total consumer mortgage— 1 — — — 1 
Consumer other
Credit Card— — 1 9 — 10 
Total consumer other— — 1 9 — 10 
Total consumer— 191 4 9 — 204 
Commercial
Commercial and industrial
Automotive11 — — — — 11 
Other— 108 — — — 108 
Total commercial11 108 — — — 119 
Total finance receivables and loans$11 $299 $4 $9 $— $323 
(a)Represents 0.2% of total finance receivables and loans outstanding as of June 30, 2024.
Payment extensions
Three months ended June 30, 2023
($ in millions)
Payment deferralsContractual maturity extensionsPrincipal forgivenessInterest rate concessionsCombinationTotal (a)
Consumer automotive$— $25 $12 $— $— $37 
Consumer mortgage
Mortgage Finance— — — — 1 1 
Total consumer mortgage— — — — 1 1 
Consumer other
Credit Card— — — 3 — 3 
Total consumer other— — — 3 — 3 
Total consumer— 25 12 3 1 41 
Commercial
Commercial and industrial
Other36 36 — — — 72 
Total commercial36 36 — — — 72 
Total finance receivables and loans$36 $61 $12 $3 $1 $113 
Payment extensions
Six months ended June 30, 2023
($ in millions)
Payment deferralsContractual maturity extensionsPrincipal forgivenessInterest rate concessionsCombinationTotal (a)
Consumer automotive$— $40 $14 $— $33 $87 
Consumer mortgage
Mortgage Finance— 2 — — 2 4 
Mortgage — Legacy— 1 — — — 1 
Total consumer mortgage— 3 — — 2 5 
Consumer other
Credit Card— — — 6 — 6 
Total consumer other— — — 6 — 6 
Total consumer— 43 14 6 35 98 
Commercial
Commercial and industrial
Other64 43 — — — 107 
Total commercial64 43 — — — 107 
Total finance receivables and loans$64 $86 $14 $6 $35 $205 
(a)Represents 0.1% of total finance receivables and loans outstanding as of June 30, 2023.
The following tables present the financial effect of loan modifications that occurred during the three months and six months ended June 30, 2024, and 2023, respectively.
Payment extensions (a)Principal forgivenessInterest rate concessions (a)Combination (a) (b)
Three months ended
June 30, 2024 ($ in millions)
Number of months extended/deferredAmount forgivenInitial rateRevised rateRemaining termRevised remaining termInitial rateRevised rate
Consumer automotive29$1 — %— %— — — %— %
Consumer mortgage
Mortgage Finance224— — — — — — — 
Total consumer mortgage224— — — — — — — 
Consumer other
Credit Card— — 30.4 9.8 — — — — 
Total consumer other— $— 30.4 9.8 — — — — 
Commercial
Commercial and industrial
Automotive7— — — — — — — 
Total commercial7$— — — — — — — 
(a)Calculated using a weighted-average balance for each portfolio class.
(b)Term is presented in number of months.
Payment extensions (a)Principal forgivenessInterest rate concessions (a)Combination (a) (b)
Six months ended
June 30, 2024 ($ in millions)
Number of months extended/deferredAmount forgivenInitial rateRevised rateRemaining termRevised remaining termInitial rateRevised rate
Consumer automotive29$1 — %— %——— %— %
Consumer mortgage
Mortgage Finance223— — — — — — — 
Total consumer mortgage223— — — — — — — 
Consumer other
Credit Card—1 30.4 8.0 ——— — 
Total consumer other—$1 30.4 8.0 ——— — 
Commercial
Commercial and industrial
Automotive7$— — %— %——— %— %
Other42— — — ——— — 
Total commercial39$— — — ——— — 
(a)Calculated using a weighted-average balance for each portfolio class.
(b)Term is presented in number of months.
Payment extensions (a)Principal forgivenessInterest rate concessions (a)Combination (a) (b) (c)
Three months ended
June 30, 2023 ($ in millions)
Number of months extended/deferredAmount forgivenInitial rateRevised rateRemaining termRevised remaining termInitial rateRevised rate
Consumer automotive26$2 — %— %— — — %— %
Consumer mortgage
Mortgage Finance— — — — 2944804.0 2.0 
Total consumer mortgage— — — — 2944804.0 2.0 
Consumer other
Credit Card— — 30.3 10.9 ——— — 
Total consumer other— $— 30.3 10.9 ——— — 
Commercial
Commercial and industrial
Other6$— — %— %——— %— %
Total commercial6$— — — ——— — 
(a)Calculated using a weighted-average balance for each portfolio class.
(b)Term is presented in number of months.
(c)Some Mortgage Finance combination loan modifications include deferrals of principal. The weighted average number of months deferred for these loans was 186 months.
Payment extensions (a)Principal forgivenessInterest rate concessions (a)Combination (a) (b) (c)
Six months ended
June 30, 2023 ($ in millions)
Number of months extended/deferredAmount forgivenInitial rateRevised rateRemaining termRevised remaining termInitial rateRevised rate
Consumer automotive25$2 — %— %758510.4 %9.8 %
Consumer mortgage
Mortgage Finance174— — — 3094704.6 3.4 
Mortgage — Legacy96— — — ——— — 
Total consumer mortgage146— — — 3094704.6 3.4 
Consumer other
Credit Card—— 30.0 9.0 ——— — 
Total consumer other—$— 30.0 9.0 ——— — 
Commercial
Commercial and industrial
Other12$— — %— %——— %— %
Total commercial12$— — — ——— — 
(a)Calculated using a weighted-average balance for each portfolio class.
(b)Term is presented in number of months.
(c)Some Mortgage Finance combination loan modifications include deferrals of principal. The weighted average number of months deferred for these loans was 186 months.
The following tables present the subsequent performance of loans recorded at amortized cost, by portfolio segment and credit quality indicator, that were modified within the 12 months prior to June 30, 2024.
June 30, 2024 ($ in millions)
Current30–59 days past due60–89 days past due90 or more days past dueTotal
Consumer automotive
Contractual maturity extensions$280 $56 $19 $4 $359 
Principal forgiveness— — — 5 5 
Combination1 — — — 1 
Total consumer automotive281 56 19 9 365 
Consumer mortgage
Mortgage Finance
Contractual maturity extensions2 — — — 2 
Total Mortgage Finance2 — — — 2 
Mortgage — Legacy
Combination1 — — — 1 
Total Mortgage — Legacy1 — — — 1 
Total consumer mortgage3 — — — 3 
Consumer other
Credit Card
Interest rate concessions9 1 1 3 14 
Total consumer other9 1 1 3 14 
Total consumer$293 $57 $20 $12 $382 
June 30, 2024 ($ in millions)
PassSpecial mentionSubstandardDoubtfulTotal
Commercial and industrial
Automotive
Payment deferrals$— $— $11 $— $11 
Other
Contractual maturity extensions53 — 55 — 108 
Total commercial$53 $— $66 $— $119 
As of June 30, 2024, 787 consumer automotive loans with a total amortized cost of $18 million redefaulted within 12 months of modification.
The following tables present the subsequent performance of loans recorded at amortized cost, by portfolio segment and credit quality indicator, that were modified during the three months and six months ended June 30, 2023.
Three months ended June 30, 2023 ($ in millions)
Current30–59 days past due60–89 days past due90 or more days past dueTotal
Consumer automotive
Contractual maturity extensions$24 $1 $— $— $25 
Principal forgiveness10 1 — 1 12 
Total consumer automotive34 2 — 1 37 
Consumer mortgage
Mortgage Finance
Combination1 — — — 1 
Total Mortgage Finance1 — — — 1 
Total consumer mortgage1 — — — 1 
Consumer other
Credit Card
Interest rate concessions1 1 — 1 3 
Total consumer other1 1 — 1 3 
Total consumer$36 $3 $— $2 $41 
Three months ended June 30, 2023 ($ in millions)
PassSpecial mentionSubstandardDoubtfulTotal
Commercial and industrial
Other
Payment deferrals$— $— $36 $— $36 
Contractual maturity extensions31 — 5 — 36 
Total commercial$31 $— $41 $— $72 
Six months ended June 30, 2023 ($ in millions)
Current30–59 days past due60–89 days past due90 or more days past dueTotal
Consumer automotive
Contractual maturity extensions$38 $2 $— $— $40 
Principal forgiveness10 1 — 3 14 
Combination31 2 — — 33 
Total consumer automotive79 5 — 3 87 
Consumer mortgage
Mortgage Finance
Contractual maturity extensions2 — — — 2 
Combination— — 2 — 2 
Total Mortgage Finance2 — 2 — 4 
Mortgage — Legacy
Contractual maturity extensions1 — — — 1 
Total Mortgage — Legacy1 — — — 1 
Total consumer mortgage3 — 2 — 5 
Consumer other
Credit Card
Interest rate concessions3 1 1 1 6 
Total consumer other3 1 1 1 6 
Total consumer$85 $6 $3 $4 $98 
Six months ended June 30, 2023 ($ in millions)
PassSpecial mentionSubstandardDoubtfulTotal
Commercial and industrial
Other
Payment deferrals$— $— $36 $28 $64 
Contractual maturity extensions31 7 5 — 43 
Total commercial$31 $7 $41 $28 $107