Ally Financial
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| Basic information | |
|---|---|
| Founded | 1919 |
| Legal Structure | Public |
| Industry | Financial services |
| Also known as | |
| Official website | https://ally.com |
Ally Financial Inc. is a US-based company offering banking, securities, and other financial services through its subsidiaries such as Ally Bank, Ally Invest Advisers Inc. and Ally Invest Securities LLC.
Consumer impact summary
Incidents
This is a list of all consumer-protection incidents this company is involved in. Any incidents not mentioned here can be found in the Ally Financial category.
Discrimination settlement (2013)
Due to Ally's discriminatory pricing system, more than 235,000 minority borrowers paid higher interest rates for their auto loans between April 2011 and December 2013. The Consumer Financial Protection Bureau (CFPB) and Department of Justice (DOJ) ordered the company to pay $18 million in penalties and $80 million in damages to affected borrowers.[1][2]
Data breach (2024)
Ally Financial experienced a data breach in April 2024 that revealed the personal data of millions of its clients.[3] A class action lawsuit had been filed by July 2024,[4] claiming Ally did not properly secure customers' confidential information, such as Social Security numbers and auto account numbers. The suit also alleged that Ally failed to use computer software available for detecting and warding off cyber-attacks, and other measures needed to protect the hardware of its systems. Additionally, customer notifications were sent only with long delay.[5] Due to this data breach, customers' personal data was being stolen and sold on the dark web.[3]
See also
References
- ↑ "CFPB and DOJ Order Ally to Pay $80 Million to Consumers Harmed by Discriminatory Auto Loan Pricing". Consumer Financial Protection Bureau. 20 Dec 2013. Archived from the original on 13 May 2016. Retrieved 4 May 2026.
- ↑ Ficklin, Patrice Alexander (29 Jan 2016). "Harmed Ally borrowers have been sent $80 million in damages". Consumer Financial Protection Bureau. Archived from the original on 1 May 2016. Retrieved 25 Nov 2025.
- ↑ 3.0 3.1 Coyer, Cassandre (9 Sep 2024). "Ally Breach May Have Leaked Consumer Data of Billions, Suit Says". Bloomberg Law. Archived from the original on 18 Oct 2025. Retrieved 25 Nov 2025.
- ↑ Wilkerson, David M.; Ostrow, Jeff (7 Sep 2024). "Owens v. Ally Bank and Ally Financial Inc., (3:24-cv-00811)". Bloomberg Law. Archived from the original on 8 July 2025. Retrieved 4 May 2026.
- ↑ Rattigan, Kathryn M. (24 Oct 2024). "Ally Financial Faces Class Actions Over Data Breach". The National Law Review. Archived from the original on 8 July 2025. Retrieved 25 Nov 2025.