Ally Financial Inc., a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Corporate Finance Operations, and Corporate and Other segments.
It offers automotive financing services, including providing retail installment sales contracts, loans and operating leases, term loans to dealers, financing dealer floorplans and other lines of credit to dealers, warehouse lines to automotive retailers, and fleet financing to consumers, automotive dealers and retailers, companies, and municipalities. Additionally, it provides financing services to companies and municipalities for the purchase or lease of vehicles, and vehicle-remarketing services.
The company also provides consumer finance protection and insurance products through the automotive dealer channel, and commercial insurance products directly to dealers. This includes VSCs, VMCs, and GAP products, as well as underwriting select commercial insurance coverages, which primarily insure dealers' vehicle inventory.
In addition, it offers senior secured asset-based and leveraged cash flow loans to middle-market companies, leveraged loans, and commercial real estate products to serve companies in the nursing facilities, senior housing, and medical office buildings. The company also engages in treasury activities, such as management of cash and corporate investment securities and loan portfolios, short- and long-term debt, retail and brokered deposit liabilities, derivative instruments, original issue discount, and equity investments.
Furthermore, the company offers commercial banking products and services, as well as securities brokerage and investment advisory services. Ally Financial Inc. was formerly known as GMAC Inc. and changed its name to Ally Financial Inc. in May 2010. The company was founded in 1919 and is based in Detroit, Michigan.
