You are no doubt aware that most of the GMAC Bank certificate of deposit accounts are now changed to Ally Bank. For this look, however, we will continue using the GMAC name to avoid confusion as many are still working with local GMAC branches whose names have not yet changed. It’s been a little while [...]

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At the end of 2008, GMAC Bank was converted to a bank holding company, which means it can receive TARP funding. This gives it a better footing for longevity and separates GMAC Bank from General Motors. What this means for the consumer looking at certificate of deposit rates is that the GMAC Bank CD rates [...]

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