An update on Ally Financial’s business

Posted in Community
May 14th, 2012 at 7:28 am by Ally

At Ally Bank, we believe in being straightforward with our customers–and that includes keeping you up-to-date on events that relate to Ally.

Today, Residential Capital, LLC (ResCap) filed for Chapter 11 protection with the U.S. Bankruptcy Court. ResCap is a separate mortgage subsidiary of our parent company, Ally Financial. We want to reassure our customers that this action does not have any impact on Ally Bank customer accounts or the terms and conditions of Ally accounts. Ally Bank operations will continue to be conducted, uninterrupted, and unaffected by the result of ResCap’s actions.

Rest assured that Ally Bank customers can continue to expect the same level of service, products and features that focus on the customer—and Ally Bank accounts will continue to be FDIC insured to the maximum amount allowed by law.

Ally Financial has been committed to reducing its business risks, maintaining a strong financial profile, investing in and enhancing its leading franchises, including Ally Bank. We believe ResCap’s actions will help us fulfill those commitments.

View an FAQ for other information related to the ResCap announcement.

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