Just as 2003 was not a popular time for cigarette makers due to swelling opposition to their products and increasing lawsuits, 2009 is not a popular time for automakers or banks. So one of the worst possible businesses to be in would be the banking arm of a Detroit automaker. Enter GMAC bank. The newest wolf in sheep’s clothing so-to-speak.
Today GMAC bank officially took a page out of the Altria playbook and has now rebranded themselves as Ally. I find itÂ interestingÂ that an institution that has recently rebranded themselves for what appears to be no other reason than to escape the image associated with their old brand would tout their honest, transparency and straight-talk. (more…)