GMAC Bank is now Ally Bank

GMAC Financial Services is switching to a new name: Ally Bank.

ally-bank

GMAC Financial Services are known for their auto loans and today they have announced that they will be calling themselves Ally Bank as well, although Ally Bank is still a unit of GMAC. Why the name change? Chief Executive Al de Molina said:

“We are launching a new brand with a new approach of treating customers with total transparency, unlike other banks which depend on fees as a business model, we want to make money with customers, not off customers.”

That’s the news on Ally Bank.

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