'Ally' is not a successful startup. Ally is the rebranded GMAC, whose founding d...

gojomo on Nov 8, 2011 | parent | context | favorite | on: BankSimple invites first customers; rebrands itsel...

'Ally' is not a successful startup. Ally is the rebranded GMAC, whose founding dates back to 1919. GMAC was renamed (and officially transformed into a registered bank) as part of a series of changes which included receiving over $16 billion in federal bailout assistance.

http://en.wikipedia.org/wiki/Ally_Financial

Though I suppose 'Ally' was a spectacular renaming, and their advertising is working, if it gives people the impression Ally is a can-do startup!

samstave on Nov 8, 2011 [–]

Avoid GMAC (Ally now) like the plague.

Rife with fraud internally (My mother used to work there and told some horrible stories of how they screwed over customers).