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Ally and Huntington are the latest banks to take steps that will reduce revenue from customers who spend money they don’t have. The moves come at a time when technological, regulatory and social forces are converging to encourage change.
June 3 -
The online bank's decision to stop charging the fees is part of a broader reassessment across the industry. Ally had waived overdraft fees early in the pandemic and has historically been less reliant on them than many other institutions.
June 2 -
Other banks soured on their AR experiments, but Ally Financial says the technology has yielded higher-balance deposit accounts — and heavier social media engagement — in marketing campaigns.
May 10 -
At the brokerage and wealth management arm of Ally Financial, Bell leads the team responsible for shaping the insight on investing and the global markets that is shared with customers.
May 5 -
Surging used-car prices — brought on by a combination of strong consumer demand and limited new-vehicle supply — are boosting loan yields and profits at the Detroit company.
April 16 -
The auto finance company, which had stumbled in forays into the credit card business, is now seeing rapid growth in mortgage and unsecured consumer lending.
January 22 -
The digital-only bank is running a new promotion in which it will set up and fund, with $250, an online savings account for any baby born on New Year’s Eve.
December 16 -
The automaker is reportedly planning to apply for a bank charter so it could collect deposits and grow its own auto-finance business. That could create more competition for Ally, which was spun off from GM in 2006 but remains a key lending partner.
December 9 -
Financial institutions like Ally Financial, Clinton Savings Bank and First National Bank of Omaha are recruiting personal finance experts, college students and local personalities to promote their products and services.
November 15 -
Payment rates for auto lenders and credit card issuers have remained strong despite a spike in unemployment. Whether these trends continue into 2021 will depend largely on the actions of Congress and the pace of medical advances.
November 2