Ally Financial Inc. · Detroit, MI United States
Company Description
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Fax: 815-282-6156
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Rankings
- #122 in FORTUNE 500
More Companies in: Detroit, Michigan
More Companies in These Related Industries: Life Insurance, Commercial Banking, Surety Insurance, Mortgage Banking, Agricultural Lending
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This link will open in a new window Ally Financial wants to be your friend in the financing business. The company (formerly GMAC Inc.) opted for its friendlier-sounding name in 2010 after it converted to a bank holding company and formed Ally Bank . Ally Financial provides auto financing for General Motors (GM) and Chrysler dealerships and their customers around the world. Its Residential Capital (ResCap) subsidiary issues residential mortgages in the US and Canada. Ally Financial also provides commercial financing services for large- and mid-market companies around the world through GMAC Commercial Finance . Although GM owns a stake in Ally, the lender was not included in GM's 2009 Chapter 11 bankruptcy reorganization. To read the full description, subscribe now.
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Key Ally Financial Inc. Financials
| Company Type | Holding Company Headquarters |
| Fiscal Year-End | December |
| 2008 Employees | 22,700 |
Ally Financial Inc. Executives
33 executives listed for Ally Financial Inc.'s Detroit, MI location.
| Title | Name & Bio | Contact |
| Chairman | Franklin Hobbs | |
| CEO and Director | Michael Carpenter | |
| President | William Muir |
Competition
Competitive Landscape for Ally Financial Inc.
Demand is driven by consumer income and demographics. The profitability of individual companies depends on the correct assessment of repayment likelihood and effective collections activities. Large companies have an advantage in the ability to manage large portfolios of mortgage, auto, and credit card loans through sophisticated computer risk modeling. Small companies can compete effectively in the cash lending or sales finance segments, where a local or neighborhood presence is highly effective. The industry is capital-intensive; annual revenue per worker is about $550,000. The federal financial reform law passed in 2010 could create a tougher business environment for consumer finance firms. New measures in the law include restricting credit cards companies from imposing interest rate hikes and fees, limiting payday loans, and discouraging auto title loans. The law also creates a Consumer Financial Protection Bureau that will take over consumer-protection responsibilities from other federal agencies. The sweeping regulatory reforms could fundamentally change the competitive environment of the consumer finance industry. To read the full description, subscribe now.Top Ally Financial Inc. Competitors
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