Ally Financial Inc

Ally Financial Inc a digital financialservices company provides various digital financial products and services to consumer commercial and corporate customers primarily in the United States and Canada It operates through four segments Automotive Finance Operations Insurance Operations Mortgage Finance Operations and Corporate Finance Operations The Automotive Finance Operations segment 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 It also provides financing services to companies and municipalities for the purchase or lease of vehicles and vehicleremarketing services The Insurance Operations segment offers consumer finance protection and insurance products through the automotive dealer channel and commercial insurance products directly to dealers This segment provides vehicle service and maintenance contract and guaranteed asset protection products and underwrites commercial insurance coverages which primarily insure dealers vehicle inventory The Mortgage Finance Operations segment manages consumer mortgage loan portfolio that includes bulk purchases of jumbo and lowtomoderate income mortgage loans originated by third parties as well as directtoconsumer mortgage offerings The Corporate Finance Operations segment provides senior secured leveraged cash flow and assetbased loans to middle market companies leveraged loans and commercial real estate product to serve companies in the healthcare industry The company also offers commercial banking products and services In addition it provides securities brokerage and investment advisory services The company was formerly known as GMAC Inc and changed its name to Ally Financial Inc in May 2010 Ally Financial Inc was founded in 1919 and is based in Detroit Michigan