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Ally Financial Inc. (known as GMAC until 2010) is a bank holding company incorporated in Delaware and headquartered at Ally Detroit Center in Detroit, Michigan.The company provides financial services including car finance, online banking via a direct bank, corporate lending, vehicle insurance, mortgage loans, and other related financing services such as installment sale and lease agreements.
It was a subsidiary of GMAC (now Ally Financial). As a result of its exposure to subprime lending during the subprime mortgage crisis, the company filed for bankruptcy protection in 2012 and underwent liquidation in December 2013.
Ally was rebranded from GMAC Bank, a subdivision of the century-old General Motors Acceptance Corporation (GMAC), units of which had faced bankruptcy during the subprime mortgage market collapse ...
Residential Capital, the troubled mortgage unit of General Motors' Ally Financial, is attracting some attention these days. The bankruptcy filing last month of one of the nation's largest mortgage ...
In May 2010, GMAC changed its name to Ally Financial. [12] In 2012, during the mortgage crisis, Ally took its residential lending unit into bankruptcy in order to pay back the U.S. Treasury following its acceptance of bailout funds. [13] In November 2012, Ditech was formed from assets of the estate of GMAC ResCap during the bankruptcy ...
Ally Financial, the digital-only bank with some $180 billion in assets, said Wednesday that it was forgiving many customer's debt in order for them to receive their full $1,200 coronavirus ...
Cape Fear Bank: Chapter 11 bankruptcy and liquidation financial company [58] April 10, 2009: New Frontier Bank: Chapter 11 bankruptcy and liquidation Bank [59] April 17, 2009: American Sterling Bank: Metcalf Bank: Bank [60] April 24, 2009: American Southern Bank: Georgia Department of Banking and Finance: Bank $ 216,600,000 [61] May 8, 2009 ...
Ally Financial (ALLY) removes overdraft fees. Will other banks like JPMorgan (JPM), Bank of America (BAC), Citigroup (C), Wells Fargo (WFC), Regions Financial (RF) & Huntington Bancshares (HBAN ...