Ally Bank
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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.
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dualstow
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Re: Ally Bank
Remember the John Oliver piece on auto loans? Seems like it could be the next big thing to really blow up.
Monstres and tokeninges gert he be-kend, / And wondirs in the air send.
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.
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grapesofwrath
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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.
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dualstow
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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.
Monstres and tokeninges gert he be-kend, / And wondirs in the air send.
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.