My question would be “Do I feel Ally is a moral and ethical bank who are good for the USA?” My answer would be “Absolutely not!”
The US Government gave 14 Trillion dollars to GMAC Mortgage in bailout money when the Fed declared them a bank to qualify them, even though they were not a bank. GMAC Mortgage never repaid those bailout loans and are now 56% owned by the US Treasury.
After the Government bailed them out, GMAC Mortgage foreclosed on more homes than any other mortgage company, resulting in plenty of wrongful foreclosure lawsuits against them. No one bailed out the US Citizens, and Ally Financial proved to be an “Ally” to no one when they robbed the nation from the top and bottom.
During the Mortgage Crisis which they were partially responsible for, GMAC Mortgage were unable to properly answer their phones and rushed to hire a completely untrained staff who remain poorly trained to this day. Customers waited months for customer service. Most either got none, or got service so poor that it may have been illegal.
Suddenly they have decided to rename themselves and to take advantage of their “bank” status with online bank accounts.
Your money will be FDIC insured, but will your conscience allow you to lend your money to the people who are more responsible for the collapse of our economy than anyone else?