Ally Financial: A different kind of bank

As a new banking brand, Ally entered the US market at the worst time possible - in 2009, during the worst of the financial crisis.

Ally Financial: A different kind of bank

BBH NY

SUMMARY

It was 2009, and the world was in the midst of the “worst financial crisis since the 1930s.”1 The last thing the world needed was another bank. U.S. consumers especially had no shortage of banking partners to choose from; 8,494 FDIC-insured commercial banks and savings institutions to be exact as of March 31, 2008.2 And people didn’t trust their banks - just 33% of consumers trusted financial firms to be fair and honest.3

It truly seemed like the worst time to launch a new...

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