Ally Bank and GM Continue to Seperate – US Government Owned Ally Bank Adjusts to AmeriCredit GM Purchase

Posted on | July 26, 2010 | No Comments

Ally Bank, formally GMAC, is currently majority owned by the US Government but it could struggle to gain “solid footing and growth” as GM has submitted a proposal to purchase subprime lender AmeriCredit.  This is just another step in the process of Ally Bank and GM continue so separate since the 2006 spin off of GMAC.


At the present time Ally Bank’s biggest auto partner is GM and with the possible purchase of AmeriCredit it is likely the case that Ally would lose many of the future GM car buyers to this company.  It is also the case that Ally Bank currently owes the US Taxpayers $16.3 billion that they borrowed through the Troubled Assets Relief Program (TARP).

There is very little doubt that Ally Bank is spending a great deal of money marketing their products but they are going to need to continue to gain customers if they have any opportunity to see solid growth over the next several years.  It will be interesting to see how Ally Bank adjusts with the GM “possible” purchase of Americredit.

Author: Mike Garner

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