Ally Invest Securities: Difference between revisions
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'''Ally Invest Securities, LLC''' (also known as '''Ally Invest''') is a wholly-owned subsidiary of [[Ally Financial]]<ref>{{Cite web |date=25 Nov 2025 |title=We’re not just raising the bar, we’re redefining it. |url=https://www.ally.com/about/ |url-status=live |access-date=25 Nov 2025 |website=Ally}}</ref> which provides securities brokerage and financial services. | '''Ally Invest Securities, LLC''' (also known as '''Ally Invest''') is a wholly-owned subsidiary of [[Ally Financial]]<ref>{{Cite web |date=25 Nov 2025 |title=We’re not just raising the bar, we’re redefining it. |url=https://www.ally.com/about/ |url-status=live |archive-url=https://archive.ph/DnDW0 |archive-date=2026-01-04 |access-date=25 Nov 2025 |website=Ally}}</ref> which provides securities brokerage and financial services. | ||
Ally Invest provides services to customers who are natural persons or legal entities such as trusts. | Ally Invest provides services to customers who are natural persons or legal entities such as trusts. | ||
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===Forced arbitration=== | ===Forced arbitration=== | ||
Ally Invest may present customers with agreements that [[Forced arbitration|force arbitration]], without an opt-out clause:<ref name=":0">{{Cite web |date=1 Apr 2025 |title=Ally Invest Securities Trust Account Application |url=https://www.ally.com/content/dam/pdf/invest/invest-trust-application.pdf |url-status=live |access-date=25 Nov 2025 |website=Ally}}</ref> | Ally Invest may present customers with agreements that [[Forced arbitration|force arbitration]], without an opt-out clause:<ref name=":0">{{Cite web |date=1 Apr 2025 |title=Ally Invest Securities Trust Account Application |url=https://www.ally.com/content/dam/pdf/invest/invest-trust-application.pdf |url-status=live |archive-url=https://archive.ph/BzhwS |archive-date=2026-01-04 |access-date=25 Nov 2025 |website=Ally}}</ref> | ||
<blockquote>THIS AGREEMENT CONTAINS A PRE-DISPUTE ARBITRATION CLAUSE. BY SIGNING THIS AGREEMENT, THE PARTIES AGREE AS FOLLOWS: | <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> | (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> | ||
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===Interest rates charged=== | ===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<ref>{{Cite web |date=2024 |title=General Legal Rate of Interest |url=https://law.justia.com/codes/maryland/commercial-law/title-12/subtitle-1/section-12-102/ |url-status=live |access-date=25 Nov 2025 |website=Justitia U.S. Law}}</ref> 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%.{{Citation needed|date=November 2025}} | 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<ref>{{Cite web |date=2024 |title=General Legal Rate of Interest |url=https://law.justia.com/codes/maryland/commercial-law/title-12/subtitle-1/section-12-102/ |url-status=live |archive-url=https://archive.ph/SZNEj |archive-date=2026-01-04 |access-date=25 Nov 2025 |website=Justitia U.S. Law}}</ref> 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%.{{Citation needed|date=November 2025}} | ||
==References== | ==References== | ||
{{Reflist}} | {{Reflist}} | ||