News Topic: Ally Financial

The recent string of positive news for the banking industry, from lower corporate taxes to less regulation, is starting to feel like a distant memory. ... Read full article

The graduates of this year's Fintech Innovation Lab New York, chosen by executives at 43 banks, are focusing on improving artificial intelligence, solving IT issues and providing a better customer experience. ... Read full article

The subprime lender could lose a big partner now that Fiat Chrysler has officially announced it will form its own auto finance unit, and the two are negotiating an end to their 6-year-old relationship. ... Read full article

Fiat Chrysler is expected to announce Friday that it will establish its own captive finance unit in the U.S. The move could be bad news for its lending partners. ... Read full article

Record originations on "better-yielding" used-car loans helped drive a 14% increase in its first-quarter profit. But Ally's shares were down Thursday on concerns of rising deposit costs. ... Read full article

Tim Russi played a key role in the company’s transition away from its once-close relationship on General Motors. He will be succeeded by Doug Timmerman, a 32-year Ally veteran. ... Read full article

Online banks have good reason for wanting regulators to update the 41-year-old Community Reinvestment Act. ... Read full article

Numerous regional banks stand to benefit from a provision that narrows the scope of institutions defined as "systemically important" under the Dodd-Frank Act. ... Read full article

The internet giant, SunTrust, Ally and other backers have invested $16 million in a new funding round for Greenlight Financial Technology, further blurring the lines between banks and tech companies. ... Read full article

Strong policies against sexual harassment appear to be a factor in shielding banks from the public shamings that have occurred in other industries, but even they know they can’t get too complacent. Some are ditching old training sessions and trying new ... Read full article

The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending. ... Read full article

Jenn LaClair will replace Chris Halmy, who is retiring. She most recently headed up PNC's business bank. ... Read full article

Dinesh Chopra is online bank's first-ever chief strategy officer. ... Read full article

The hurricanes destroyed hundreds of thousands of cars, and banks are significantly boosting their reserves in anticipation of higher defaults on auto loans. But there is also a silver lining for auto lenders. ... Read full article

Under Diane Morais, Ally Bank is growing deposits at a rate four times faster than the industry average. ... Read full article

The online bank will consolidate all of its Charlotte-area employees into a new office tower, but its headquarters will remain in Detroit. ... Read full article

The commitments were the residue of restrictions that were placed on Ally in the wake of government bailouts in 2008 and 2009. ... Read full article

The Detroit company is capitalizing on other banks' retreat from the auto sector. ... Read full article