Exclusive: Another major financial institution ditches overdraft fees [CNN]
Ally Financial Inc. (ALLY)
Last ally financial inc. earnings: 4/20 07:30 am
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Source: CNN
Alliant, a digital-only lender with $14 billion in assets, says it is the largest credit union and second-largest financial institution to say goodbye to the fees that consumer advocates criticize as unfairly punishing society's most vulnerable. "We think this is the right thing to do by our customers," Alliant CEO Dennis Devine said in an interview. "And this puts pressure on the rest of the market to do the right thing." In June, online lender Ally Bank became the largest financial institution to scrap overdraft charges. Chicago-based Alliant, which was founded in 1935 as United Airlines' credit union, painted the move as a way to differentiate itself from traditional lenders and to grow its base of more than 600,000 customers. Overdraft fees are quite common and average $35, making them a key source of revenue for many lenders. These fees brought in $12.4 billion in 2020 alone, according to data analytics company FinHealth Devine conceded that the elimination of overdraf
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News
- The Life and Times of Leftovers [USA TODAY]USA TODAY
- Ally Financial Inc. (NYSE: ALLY) had its price target raised by analysts at TD Cowen from $42.00 to $43.00. They now have a "hold" rating on the stock.MarketBeat
- Ally Financial (ALLY) Gains on Q1 Earnings Beat, Costs Rise Y/Y [Yahoo! Finance]Yahoo! Finance
- Ally Financial Inc. (NYSE:ALLY) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Ally Financial Inc. (NYSE: ALLY) had its price target raised by analysts at BMO Capital Markets from $36.00 to $37.00. They now have a "market perform" rating on the stock.MarketBeat
ALLY
Earnings
- 4/19/24 - Beat
ALLY
Sec Filings
- 4/18/24 - Form 8-K
- 4/8/24 - Form 4
- 4/8/24 - Form 4
- ALLY's page on the SEC website