GMAC Bank renamed Ally Bank

GMAC Financial Services has changed the name of its online bank, GMAC Bank, to Ally Bank, reports Bizjournals.

According to the company, Ally offers a variety of savings products, including no-penalty certificates of deposit, online savings accounts and money-market accounts.

"We are launching a new brand with a new approach of treating customers with total transparency," says GMAC Financial Chief Executive Al de Molina. "Unlike other banks which depend on fees as a business model, we want to make money with customers, not off customers."

Ally Bank is insured by the Federal Deposit Insurance Corp. for up to $250,000 per depositor through Dec. 31.

GMAC, once the financing arm of General Motors Corp., announced last year it would become an independent bank-holding company.

The company recently said it would open a major corporate center in uptown Charlotte, hiring 200 banking employees. The office will be in the 440 S. Church St. office tower.

The company has signed a long-term lease and will initially occupy four floors, or 106,525 square feet, in the 15-story building, with the option to expand as needed.

The building was developed by Trinity Capital Advisors and Novare Group. Employees housed in the company's Toringdon office complex in south Charlotte will start moving to the uptown site in the fourth quarter.