GMAC Bank Bites the Dust

JLB · #1 (**permalink**) 05-16-2009, 10:42 AM

I mention this here because I believe GMAC Bank has been a source for timeshare financing, but I received an email yesterday saying:

GMAC Bank is now Ally Bank

FWIW, they have been one of the few Internet banks that I have not had problems with.

chriskre · #2 (**permalink**) 05-16-2009, 10:49 AM

Wow, does that mean I don't have to pay back my equity line loan?

rikkis_playpen · #3 (**permalink**) 05-16-2009, 10:52 AM

It seems as if GMAC is currently in a period of reviewing all their business models. GMAC Real Estate, which was purchased by Brookfield Residential Property Services in late 2008, is a prime example of this. I believe that brand change will be happening in the near future as well. I think soon, we'll be seeing the GM brand focusing recognition back on the automobile industy- and GMAC reducing it's public exposure.

JLB · #4 (**permalink**) 05-16-2009, 11:43 AM

Quote:

Originally Posted by chriskre

Wow, does that mean I don't have to pay back my equity line loan?

You never did . . . have to.

JLB · #5 (**permalink**) 05-16-2009, 11:49 AM

When I go to the GMAC Bank log in, stored in Favorites, it announces the changed to Ally Bank and says to log in with the same userid and password.

But it gives no place to log in, like it may be at the bottom of the page with no way to scroll down, like the page is not fully loading.

JLB · #6 (**permalink**) 05-16-2009, 12:14 PM

The Ally Bank site linked to in their email does not like Ole POC either, but that is that their fault as most people assume no one is still using an OS from last century.

Once there, everthing is looking the same, except that out three CDs transferred over at the 12/30/08 values and YTD Interest for each is showing zero.

)&$%()*^$^%( !!!!