Ally Financial
❗Article Status Notice: This Article is a stub
This article is underdeveloped, and needs additional work to meet the wiki's Content Guidelines and be in line with our Mission Statement for comprehensive coverage of consumer protection issues. Issues may include:
- This article needs to be expanded to provide meaningful information
- This article requires additional verifiable evidence to demonstrate systemic impact
- More documentation is needed to establish how this reflects broader consumer protection concerns
- The connection between individual incidents and company-wide practices needs to be better established
- The article is simply too short, and lacks sufficient content
How You Can Help:
- Add documented examples with verifiable sources
- Provide evidence of similar incidents affecting other consumers
- Include relevant company policies or communications that demonstrate systemic practices
- Link to credible reporting that covers these issues
- Flesh out the article with relevant information
This notice will be removed once the article is sufficiently developed. Once you believe the article is ready to have its notice removed, visit the Discord (join here) and post to the #appeals channel, or mention its status on the article's talk page.
| Basic information | |
|---|---|
| Founded | 1919 |
| Type | Public |
| Industry | Financial services |
| Official website | http://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.
Incidents
2013 discrimination settlement
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]