0000040729-16-000489.txt : 20160309 0000040729-16-000489.hdr.sgml : 20160309 20160309142024 ACCESSION NUMBER: 0000040729-16-000489 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20160309 ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20160309 DATE AS OF CHANGE: 20160309 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Ally Financial Inc. CENTRAL INDEX KEY: 0000040729 STANDARD INDUSTRIAL CLASSIFICATION: FINANCE LESSORS [6172] IRS NUMBER: 380572512 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03754 FILM NUMBER: 161494110 BUSINESS ADDRESS: STREET 1: MAIL CODE: 482-B09-C24 STREET 2: 200 RENAISSANCE CENTER CITY: DETROIT STATE: MI ZIP: 48265 BUSINESS PHONE: 866-710-4623 MAIL ADDRESS: STREET 1: MAIL CODE: 482-B09-C24 STREET 2: 200 RENAISSANCE CENTER CITY: DETROIT STATE: MI ZIP: 48265 FORMER COMPANY: FORMER CONFORMED NAME: GMAC INC. DATE OF NAME CHANGE: 20090701 FORMER COMPANY: FORMER CONFORMED NAME: GMAC LLC DATE OF NAME CHANGE: 20060720 FORMER COMPANY: FORMER CONFORMED NAME: GENERAL MOTORS ACCEPTANCE CORP DATE OF NAME CHANGE: 19920703 8-K 1 a8-k3x9x16.htm 8-K 8-K



UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934


March 9, 2016
(Date of report; date of
earliest event reported)

Commission file number: 1-3754

ALLY FINANCIAL INC.
(Exact name of registrant as specified in its charter)
    
Delaware
 
38-0572512
(State or other jurisdiction of
 
(I.R.S. Employer
incorporation or organization)
 
Identification No.)


200 Renaissance Center
P.O. Box 200 Detroit, Michigan
48265-2000
(Address of principal executive offices)
(Zip Code)

(866) 710-4623
(Registrant's telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))





Item 8.01    Other Events.
Ally Financial Inc. (“Ally”) issued a press release today announcing that Ally Bank, Ally’s direct banking subsidiary, has received approval from the Federal Reserve System to become a state member bank.  The press release is attached as Exhibit 99.1, and is incorporated by reference herein.
In connection with the application of Ally Bank for membership in the Federal Reserve System, each of Ally, IB Finance Holding Company, LLC and Ally Bank made commitments to the Board of Governors of the Federal Reserve System relating to Ally Bank’s leverage ratio, liquidity, and business plan requirements that are consistent with existing requirements pursuant to the Capital and Liquidity Maintenance Agreement, dated July 13, 2015.
Item 9.01    Financial Statements and Exhibits.
Exhibit No.
Description
 
 
99.1
Press Release issued March 9, 2016




SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
Ally Financial Inc.
(Registrant)
 
 
 
 
 
 
 
 
 
 
 
Dated:
March 9, 2016
 
/s/ David J. DeBrunner
 
 
 
 
David J. DeBrunner
 
 
 
 
Vice President, Chief Accounting Officer and
Controller
 




EXHIBIT INDEX
Exhibit No.
Description
 
 
99.1
Press Release issued March 9, 2016



 EX-99.1 2 exhibit9913-9x16.htm EXHIBIT 99.1 Exhibit


Ally Financial Banking Subsidiary to Become State Member Bank
DETROIT, March 9, 2016 /PRNewswire/ -- Ally Financial Inc.'s (NYSE: ALLY) direct banking subsidiary, Ally Bank, received approval from the Federal Reserve to become a state member bank and be regulated by the Board of Governors of the Federal Reserve System through the Federal Reserve Bank of Chicago. Ally Bank's parent company, Ally Financial Inc., is also regulated by the Federal Reserve Bank of Chicago, and this move will simplify the regulatory structure by having a single federal regulator for both entities as Ally Bank becomes a larger part of Ally Financial. Ally Bank will also continue to be regulated by the Utah Department of Financial Institutions (UDFI).
"Ally Bank has become the leading direct bank in the United States since its launch in 2009, and we have continued to be recognized in the industry for our relentless focus on delivering for our customers," said Ally Chief Executive Officer Jeffrey Brown. "Ally Bank recently announced the launch of additional products that will enable the franchise to continue its growth and momentum in digital banking. Shifting toward a single primary federal regulator will position Ally to have a regulatory environment more in line with its peers as the banking subsidiary becomes a larger part of the overall company."
About Ally Financial
Ally Financial Inc. (NYSE: ALLY) is a leading automotive financial services company powered by a top direct banking franchise. Ally's automotive services business offers a full spectrum of financial products and services, including new and used vehicle inventory and consumer financing, leasing, vehicle service contracts, commercial loans and vehicle remarketing services, as well as a variety of insurance offerings, including inventory insurance, insurance consultative services for dealers and other ancillary products. Ally Bank, the company's direct banking subsidiary and member FDIC, offers an array of deposit products, including certificates of deposit, savings accounts, money market accounts, IRA deposit products and interest checking. Ally's Corporate Finance unit provides financing to middle-market companies across a broad range of industries.
With approximately $158.6 billion in assets as of Dec. 31, 2015, Ally operates as a financial holding company. For more information, visit the Ally media site at http://media.ally.com or follow Ally on Twitter: @Ally.
Contact:
Gina Proia
646-781-2692
gina.proia@ally.com