Ally Financial

Douglas Timmerman, the company's president of dealer financial services, will step in when Jeffrey Brown departs at the end of January. Ally continues its hunt for a permanent CEO.

Scott Stengel, who has been Ally's general counsel since 2016, will succeed Ellen Fitzsimmons, who is retiring after four years as head of legal affairs at Truist.

The Detroit-based firm said the job cuts will occur across divisions and aren't isolated to a single line of business.

Brown has been with the online lender almost since it was spun off from General Motors, helping it broaden its product offerings and take a stand on overdraft fees. Now he must help Ally confront a looming recession.

Women focused on environmental, social and governance issues are seeing career opportunities open as sustainable finance initiatives become more critical to a bank's success.

Though quantum computing is not quite ready, banks are testing it for portfolio optimization, index tracking, options pricing and other tough mathematical problems.

By taking the manual labor out of data management and upkeep, experts can reach new clients and better serve their existing ones.

The Detroit company, one of the nation's largest car lenders, enjoyed a surge in profits during the second quarter, largely due to strong consumer demand for vehicles. But how long will the good times last?

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

The digital bank is on a larger mission to attract younger customers. It's inserting itself into the popular video game in the hope that game players will learn about its products and have fun at the same time.

The agency overreached in its proposal to revamp the Community Reinvestment Act when it should have simply required branchless banks to invest more in areas where deposits are taken.