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April 21, 2015 5:39 AM ET

Consumer Finance

Company Overview of Ally Financial Inc.

Company Overview

Ally Financial Inc. provides financial products and services primarily to automotive dealers and their customers in the United States. It offers dealer financial services, including a range of financial services and insurance products to automotive dealers and retail customers. The company also provides automotive finance services, such as new and used vehicle inventory financing; inventory insurance; term loans, including real estate and working capital loans; and vehicle remarketing services, as well as vehicle service contracts (VCSs) and guaranteed automobile protection (GAP) products. In addition, it offers retail automotive financing for new and used vehicles, and leasing for new vehic...

200 Renaissance Center

PO Box 200

Detroit, MI 48265

United States

Founded in 1919

6,900 Employees

Phone:

866-710-4623

Key Executives for Ally Financial Inc.

Chief Executive Officer and Director
Age: 41
Total Annual Compensation: $600.0K
Chief Financial Officer
Age: 46
Total Annual Compensation: $500.0K
Chairman of Ally Bank, Chief Executive Officer of Ally Bank and President of Ally Bank
Age: 55
Total Annual Compensation: $600.0K
Group Vice President and General Counsel
Age: 61
Total Annual Compensation: $500.0K
Consultant
Age: 67
Compensation as of Fiscal Year 2014.

Ally Financial Inc. Key Developments

Lawsuit Files in Washington County Circuit Court against Natasha Fletcher, Honda of Fayetteville, Landers Honda North, Fayetteville Autoplex, Ally Financial Inc. and Ally Financial Lease Trust

A lawsuit filed in Washington County Circuit Court alleges some car dealers and financing companies in Northwest Arkansas are charging customers more interest than the law allows. The suit was filed on behalf of Natasha Fletcher and names UAG Fayetteville II, doing business as Honda of Fayetteville, Landers Honda North and Fayetteville Autoplex, also known as Fayetteville Auto Park. It also names Ally Financial Inc., doing business as Ally Financial and Ally Financial Lease Trust. The suit asks for rulings on whether the terms of the financing agreements violate Arkansas usury laws or the Arkansas Deceptive Trade Practices Act and whether customers are entitled to a refund of their money. The suit contends Fletcher bought and financed a used 2011 Honda Insight from Fayetteville Autoplex in June 2013 and was charged 18.15% interest. The suit asks a judge to establish a class made up of Arkansas customers who signed similar contracts with UAG and declare Fletcher's contract, along with those of other class members, void as to both principal and interest. The complaint says there could be hundreds, if not thousands, of customers who were charged an illegal interest rate.

Ally Financial Declares Dividends on Preferred Stock, Payable on May 15, 2015

Ally Financial Inc. has declared quarterly dividend payments for certain outstanding preferred stock. Each of these dividends were declared by the board of directors on April 1, 2015, and are payable on May 15, 2015. A quarterly dividend payment was declared on Ally's Fixed Rate Cumulative Perpetual Preferred Stock, Series G, of $22 million, or $17.11 per share, and is payable to shareholders of record as of May 1, 2015. Additionally, a dividend payment was declared on Ally's Fixed Rate/Floating Rate Perpetual Preferred Stock, Series A, of $21.7 million, or $0.53 per share, and is payable to shareholders of record as of May 1, 2015.

Ally Financial to Relocate Headquarters to New Ally Detroit Center

Ally Financial plans to establish its new headquarters in the landmark One Detroit Center office tower, which is to be renamed Ally Detroit Center. Ally plans to relocate its current headquarters in the Renaissance Center as well as its other Southeast Michigan offices into one unified Michigan headquarters into the office tower that is to bear its name. The company plans to move 700 team members currently working in Detroit to Ally Detroit Center along with an additional 600 team members from its four other Southeast Michigan locations beginning in the spring of 2016. In addition, the company plans to employ approximately 200 independent third party contractors and vendors in Detroit.

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