FAQs
DETROIT, Jan.
(NYSE: ALLY) today announced that it completed the sale of its 40 percent interest in the China joint venture SAIC-GMAC Automotive Finance Company Limited (formerly known as GMAC-SAIC Automotive Finance Company Limited) to General Motors Financial Company, Inc.
What is Ally Bank mission statement? ›
We strive to meet and exceed the needs of our customers with agility, speed and innovation. We lead the marketplace by continually evolving, responding quickly and delivering our customers a superior experience.
How well capitalized is Ally Bank? ›
Ally Bank is profitable, growing, and well-capitalized. As of March 31, 2022, Ally Bank had $174.5 billion in total assets, $145.2 billion in total deposits, $15.6 billion of total equity capital, and 9,515 full-time employees.
Does Ally Financial go by another name? ›
In May 2009, GMAC Bank was rebranded as Ally Bank. In 2009, Capmark filed for bankruptcy and its North American loan origination and servicing business was acquired by Berkadia, a joint venture of Leucadia National and Berkshire Hathaway. In May 2010, GMAC re-branded itself as Ally Financial.
What is the Ally Bank controversy? ›
The CFPB ordered Ally Financial Inc. and Ally Bank to pay $80 million in damages to African-American, Hispanic, and Asian and Pacific Islander consumers harmed by Ally's discriminatory auto loan pricing, and $18 million in civil money penalties.
Is Ally Bank safe from collapse? ›
Yes, Ally Bank is FDIC insured (FDIC No. 57803). The federal government insures banking products from Ally up to $250,000 per depositor, for each account ownership category. FDIC insurance protects your money in the event of a bank failure.
Who is Ally Bank owned by? ›
Ally Financial Inc (NYSE:ALLY)
Institutional investors hold a majority ownership of ALLY through the 90.44% of the outstanding shares that they control. This interest is also higher than at almost any other company in the Regional Banks industry.
What country is Ally Bank from? ›
Ally Financial, Inc. is a financial holding company headquartered in Detroit, Michigan, United States. It was founded in 1919 by General Motors (GM) as the General Motors Acceptance Corporation (GMAC) to provide financing to automotive customers.
Where does Ally rank in banks? ›
Ally had $176 billion in assets as of June 20, 2022, ranking it No. 22 among American banks.
Is my money safe in Ally Bank? ›
Ally Bank is a member of the Federal Deposit Insurance Corporation (FDIC). The FDIC protects your Ally Bank deposits up to $250,000 per depositor for each qualifying account ownership category. This means you can rest assured that your deposits are safe up to FDIC limits, no matter what's happening in the economy.
Is Ally a safe bank? Your money is safe with Ally Bank because it is FDIC-insured. This means that your funds in Ally deposit accounts are insured up to $250,000 per person, per ownership category if the bank goes out of business.
What is Ally Bank credit rating 2023? ›
Ratings Affirmed with Stable Rating Outlook: On March 20, 2023, Fitch Ratings' affirmed Ally Financial Inc.'s (Ally, or the company) Issuer Default Rating (IDR) of 'BBB–' and maintained the Rating Outlook at Stable.
Who owns Ally Bank 2023? ›
Ally Financial, the holding company that owns Ally Bank is located in Detroit, Michigan. Ally has employee offices across the U.S. include locations in Atlanta, Chicago, Dallas, Jacksonville, Little Rock, Minneapolis, New York, Philadelphia, and Pittsburgh.
Does GM still own Ally Bank? ›
Both GM and GMAC were bailed out by the U.S. government at the height of the financial crisis, and in 2013 GM sold the last of its ownership stake in Ally, as GMAC renamed itself in 2009.
Who are the major shareholders of Ally Financial? ›
Largest shareholders include Berkshire Hathaway Inc, Vanguard Group Inc, Harris Associates L P, BlackRock Inc., OAKMX - Oakmark Fund Investor Class, Sessa Capital IM, L.P., Arrowstreet Capital, Limited Partnership, VTSMX - Vanguard Total Stock Market Index Fund Investor Shares, State Street Corp, and Dimensional Fund ...
What US banks have ties to China? ›
The three of biggest banks in the U.S., JPMorgan Chase, Bank of America, and Citigroup, began the year with just over $45 billion in exposure to China.
What banks are affiliated with China? ›
Specialized banks are majority-owned by the state. These are the Industrial & Commercial Bank of China (ICBC), the China Construction Bank (CCB), the Bank of China (BoC), the Bank of Communications (BoCom), and the Agricultural Bank of China (ABC).
What bank is associated with China? ›
In fact, the biggest four banks in the world (by asset size) are Chinese, according to the 2021 annual rankings by S&P Global Market Intelligence: the Industrial & Commercial Bank of China, the China Construction Bank, the Bank of China, and the Agricultural Bank of China.
