Ally Invest Securities: Difference between revisions

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Ally Invest Securities, LLC (Ally Invest) is a wholly-owned subsidiary of [[Ally Financial]]~~, Inc.~~ which provides securities brokerage and financial services.

{{InfoboxCompany

| Name = Ally Invest

| Type = Subsidiary

| Founded = 2016

| Industry = Stockbrokering

| Official Website = https://www.ally.com/invest

| Logo = QuestionMark.svg

}}

'''Ally Invest Securities, LLC''' (also known as '''Ally Invest''') is a wholly-owned subsidiary of [[Ally Financial]] which provides securities brokerage and financial services.

Ally Invest provides services to customers who are natural persons or legal entities such as trusts.

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===Forced arbitration===

Ally Invest may present customers with agreements ~~containing~~ arbitration ~~language like the following and also~~ without an opt-out clause:

Ally Invest may present customers with agreements that [[Forced arbitration|force arbitration]], without an opt-out clause:

<blockquote>THIS AGREEMENT CONTAINS A PRE-DISPUTE ARBITRATION CLAUSE. BY SIGNING THIS AGREEMENT, THE PARTIES AGREE AS FOLLOWS:

(I) ALL PARTIES TO THIS AGREEMENT ARE GIVING UP THE RIGHT TO SUE EACH OTHER IN COURT, INCLUDING THE RIGHT TO A JURY, EXCEPT AS PROVIDED BY THE RULES OF THE ARBITRATION FORUM IN WHICH A CLAIM IS FILED.</blockquote>

===Asymmetric indemnification clauses===

Ally Invest may present customers with an account agreement which includes language like the following:

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===Information collection and sharing===

Ally Invest may use or transmit data related to a customer's account or device with a wireless carrier. They may present customers with account applications specifying text like the following:

<blockquote>Customer Authentication. I authorize My wireless carrier to use or disclose information about My account and My wireless device, if available, to AIS or its service provider for the duration of My business relationship, solely to help them identify Me or My wireless device and to prevent fraud.</blockquote>

Customers who are concerned over their physical and cyber security potentially being affected by an account agreement but without any stated opt-out could compare this position with competitors and/or to regulatory or court filings and statements to assess the legal position of this practice.

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===Interest rates charged===

Ally Invest may be charging customers a higher rate of interest than the maximum allowed rate named in statutory laws in some jurisdictions in the United States. For example, the 2024 Maryland Code Commercial law sec. 12-102 states a maximum rate of interest of 6 percent per annum, but Ally Invest does not specify that it does not allow its interest rates to go above 6% for customers residing in Maryland. It is worth noting, however, that other companies providing brokerage services publicly advertise similarly high (less favorable) interest rates to customers. As of 2025-01-19, the public-facing Ally Invest website cites a margin loan interest rate as of 2024-12-18 of between 7.50% and 12%.

==References==

https://www.ally.com/invest/

@@ Line 2: / Line 2: @@
-Ally Invest Securities, LLC (Ally Invest) is a wholly-owned subsidiary of [[Ally Financial]], Inc. which provides securities brokerage and financial services.
+{{InfoboxCompany
+| Name = Ally Invest
+| Type = Subsidiary
+| Founded = 2016
+| Industry = Stockbrokering
+| Official Website = https://www.ally.com/invest
+| Logo = QuestionMark.svg
+}}
+'''Ally Invest Securities, LLC''' (also known as '''Ally Invest''') is a wholly-owned subsidiary of [[Ally Financial]] which provides securities brokerage and financial services.
 Ally Invest provides services to customers who are natural persons or legal entities such as trusts.
@@ Line 9: / Line 19: @@
 ===Forced arbitration===
-Ally Invest may present customers with agreements containing arbitration language like the following and also without an opt-out clause:
+Ally Invest may present customers with agreements that [[Forced arbitration|force arbitration]], without an opt-out clause:
 <blockquote>THIS AGREEMENT CONTAINS A PRE-DISPUTE ARBITRATION CLAUSE. BY SIGNING THIS AGREEMENT, THE PARTIES AGREE AS FOLLOWS:
 (I) ALL PARTIES TO THIS AGREEMENT ARE GIVING UP THE RIGHT TO SUE EACH OTHER IN COURT, INCLUDING THE RIGHT TO A JURY, EXCEPT AS PROVIDED BY THE RULES OF THE ARBITRATION FORUM IN WHICH A CLAIM IS FILED.</blockquote>
 ===Asymmetric indemnification clauses===
 Ally Invest may present customers with an account agreement which includes language like the following:
@@ Line 25: / Line 33: @@
 ===Information collection and sharing===
-Ally Invest may use or transmit data related to a customer's account or device with a wireless carrier.  They may present customers with account applications specifying text like the following:
+Ally Invest may use or transmit data related to a customer's account or device with a wireless carrier. They may present customers with account applications specifying text like the following:
 <blockquote>Customer Authentication. I authorize My wireless carrier to use or disclose information about My account and My wireless device, if available, to AIS or its service provider for the duration of My business relationship, solely to help them identify Me or My wireless device and to prevent fraud.</blockquote>
 Customers who are concerned over their physical and cyber security potentially being affected by an account agreement but without any stated opt-out could compare this position with competitors and/or to regulatory or court filings and statements to assess the legal position of this practice.
@@ Line 37: / Line 45: @@
 ===Interest rates charged===
-Ally Invest may be charging customers a higher rate of interest than the maximum allowed rate named in statutory laws in some jurisdictions in the United States.  For example, the 2024 Maryland Code Commercial law sec. 12-102 states a maximum rate of interest of 6 percent per annum, but Ally Invest does not specify that it does not allow its interest rates to go above 6% for customers residing in Maryland.  It is worth noting, however, that other companies providing brokerage services publicly advertise similarly high (less favorable) interest rates to customers.  As of 2025-01-19, the public-facing Ally Invest website cites a margin loan interest rate as of 2024-12-18 of between 7.50% and 12%.
+Ally Invest may be charging customers a higher rate of interest than the maximum allowed rate named in statutory laws in some jurisdictions in the United States. For example, the 2024 Maryland Code Commercial law sec. 12-102 states a maximum rate of interest of 6 percent per annum, but Ally Invest does not specify that it does not allow its interest rates to go above 6% for customers residing in Maryland. It is worth noting, however, that other companies providing brokerage services publicly advertise similarly high (less favorable) interest rates to customers. As of 2025-01-19, the public-facing Ally Invest website cites a margin loan interest rate as of 2024-12-18 of between 7.50% and 12%.
 ==References==
 https://www.ally.com/invest/