Ally Bank
Moderator: Global Moderator
Ally Bank
They have had an upsurge in subprime auto loan defaults. They used to be called GMAC, and their portfolio is heavily auto loans. I love the 1% paid on deposits, but I am going the watch their quarterly profits. I run from potential problems. I never want to be in a bank where FDIC in invoked.
Re: Ally Bank
I looked at DepositAccounts.com, Ally is A+ rated, PurePoint is A. Go figure!Desert wrote:You could compare with PurePoint Financial, currently paying 1.25%, with a 10K minimum.ochotona wrote:They have had an upsurge in subprime auto loan defaults. They used to be called GMAC, and their portfolio is heavily auto loans. I love the 1% paid on deposits, but I am going the watch their quarterly profits. I run from potential problems. I never want to be in a bank where FDIC in invoked.
-
dualstow
- Executive Member
- Posts: 15220
- Joined: Wed Oct 27, 2010 10:18 am
- Location: searching for the lost Xanadu
- Contact:
Re: Ally Bank
Remember the John Oliver piece on auto loans? Seems like it could be the next big thing to really blow up.
Abd here you stand no taller than the grass sees
And should you really chase so hard /The truth of sport plays rings around you
And should you really chase so hard /The truth of sport plays rings around you
Re: Ally Bank
It doesn't sound good. Well, if I watch the quarterly financials I should see severe problems well in time to move money.dualstow wrote:Remember the John Oliver piece on auto loans? Seems like it could be the next big thing to really blow up.
-
grapesofwrath
- Associate Member
- Posts: 46
- Joined: Thu Jul 14, 2016 5:57 am
Re: Ally Bank
I'm at a loss why someone would put cash in bank CDs vs just bills/notes at treasury direct. The rates, even if better, don't seem worth it for the grief, continual churn and chasing, and lack of peace of mind.
-
dualstow
- Executive Member
- Posts: 15220
- Joined: Wed Oct 27, 2010 10:18 am
- Location: searching for the lost Xanadu
- Contact:
Re: Ally Bank
A friend of mine feels the opposite. He cannot fathom why I would buy treasuries, "ignoring" higher yields from CDs.grapesofwrath wrote:I'm at a loss why someone would put cash in bank CDs vs just bills/notes at treasury direct.
Abd here you stand no taller than the grass sees
And should you really chase so hard /The truth of sport plays rings around you
And should you really chase so hard /The truth of sport plays rings around you
Re: Ally Bank
Because I'm not willing to give up the $3,000 in interest I earned last year, that's why!grapesofwrath wrote:I'm at a loss why someone would put cash in bank CDs vs just bills/notes at treasury direct. The rates, even if better, don't seem worth it for the grief, continual churn and chasing, and lack of peace of mind.