-
The Detroit lender will take a first-quarter hit due to a latest balance sheet restructuring, but said the play should boost profitability in the long term.
March 5 -
The auto lender is selling its credit card business and halting new mortgage loans, abandoning its once-broader ambitions. Ally CEO touted the move as "the power of focus."
January 22 -
A sale would mark a swift retreat from the intensely competitive credit card business, where Ally competes with giant players such as Capital One.
November 22 -
Morais, the former president of consumer and commercial banking at Ally, reflects on the lessons learned in her more than three-decade career.
November 5 -
The Detroit company's charge-offs on consumer auto loans rose sharply last quarter. Its CEO said he's confident losses will decline, but the next few quarters "will be choppy."
October 18 -
A top executive at the auto lender said that more borrowers struggled to repay their loans over the summer amid inflation and a tougher job market. Late payments on auto loans rose by more than Ally expected in July and August.
September 10 -
The Detroit-based auto lender has been dealing with an imbalance in deposit costs and loan yield since rates rapidly rose. Now, the bank's fixed-rate loans from before are maturing.
July 17 -
The Detroit-based company is exploring ways to make more consumer auto loans without running afoul of stricter capital standards that are expected from the Federal Reserve. Possible approaches include more securitizations and the use of credit risk transfers.
April 18 -
JPMorgan Chase's board has announced the slate of candidates to replace Jamie Dimon if he ever retires. The bank is just one of several large institutions that have recently decided on who will take over the top job.
April 10 -
Some online banks that offer high-yield savings accounts are making those products a little less high-yielding. Banks are also shortening the duration of new CDs, hoping that anticipated rate cuts by the Fed will enable them to start paying less to consumers.
April 9