INDUSTRY INSIGHTS YOUR PEERS ARE READING
The Detroit, Mich.-based based online-only bank, Ally Financial, had 120,000 new deposit customers in the first quarter on 2019, CEO Jeff Brown said on the bank's 1Q earnings call Thursday, bringing the Ally’s total depositor count to 1.77 million — a 20% YoY increase. MORE
Ally Financial in Detroit has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime mortgage backed securities in 2006 and 2007. breaking_news national-regional law-regulation auto mortgage mi consumer-finance MORE
JPMorgan Chase, drawing from its experience in the Motor City, has created a $125 million program designed to help community development financial institutions make bigger investments in impoverished neighborhoods. national-regional strategic-alternatives dealmaking-strategy MORE
The Cincinnati bank is following a wider industry strategy of opening new branches in faster-growth, urban markets. Growth strategies Consumer banking Branch management Fifth Third Bancorp MORE
Institutions see opportunity in Detroit, reversing trend of shrinking branch footprint Management M&A. 1Management MORE
The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending. Auto lending Auto leasing Deposits Earnings Consumer lending Subprime lending Ally Financial Ally Bank MORE
The Michigan company has committed $50,000 to the partnership over the next two years amid a big push to modernize its product and service offerings. Fintech Community banking Consumer banking Flagstar Bancorp Michigan MORE
Verizon’s 5G stadiums include those of the Seattle Seahawks, Denver Broncos, Detroit Lions, New England Patriots, Miami Dolphins, Indianapolis Colts, Carolina Panthers, New York Giants and Jets, Baltimore Ravens, Houston Texans and Minnesota Vikings. MORE
15 Percent of the Detroit Lions Gridiron Club members who’ve tested their new order-ahead app so far. Today In Data Detroit Lions Dunkin’ Donuts mobile apps News parking meters payments data QSRs Today in Data traffic MORE
Detroit MI: Autobooks, a financial technology company that builds cash management tools to help small business owners, announced the closing of a $5.5 MORE
For those in the Detroit area, the Perficient office in Livonia is hosting the SouthEast Michigan Atlassian User Group (AUG) on April 24th. The AUG commonly meets in the Livonia/Detroit Perficient office for the Tuesday evening event, followed by an encore presentation at lunch the following day in Ann Arbor at the Ithaka office. The SouthEast Michigan AUG meets the last Tuesday of every other month for the 2018 year. MORE
Mortgage lenders are stressed about how the CFPB''s new mortgage disclosure rule will impact their business. But the new forms may give them a chance to improve business performance. law-regulation MORE
Personal Finance brain Detroit News George Loewenstein Jennifer Calonia Saving MoneyWhile it seems like a utopian concept, the argument that some consumers could be addicted to saving money might not be as inconceivable as it sounds. MORE
Ally Financial in Detroit reached a truce with Lion Point Capital, as it agreed to appoint an independent director in consultation with the activist investor. breaking_news consumer-finance dealmaking-strategy auto strategic-alternatives mi national-regional MORE
Ally Financial has blasted a proxy advisory firm for its recommendation that shareholders vote against the re-election of four of the Detroit company's directors. breaking_news auto consumer-finance mi national-regional MORE
The company carries brands such as the Detroit Spice Company and Lush Gourmet (Nuts). Michiganders may have a cottage up north, treat 50 degrees as “shorts weather” and consider Superman ice cream to be a symbol of their childhoods. MORE
Ally Financial in Detroit has agreed to provide up to $600 million in financial backing for Carvana’s online auto sales. breaking_news consumer-finance auto mi az national-regional MORE
In other self-driving news, Reuters is reporting that Waymo, a company under the umbrella of Alphabet, which owns Google, has picked a Detroit factory to make self-driving cars. Tesla CEO Elon Musk said he will launch the company’s robotaxi program by 2020, according to reports. “I MORE
Discover Ranks highest in credit card customer satisfaction for third consecutive year DETROIT: 18 August 2016 — At least one in five credit card customers are carrying the wrong card, Cards Commerce Credit Unions News Payments Asia Europe insights US MORE
The Detroit company is facing stiffer competition in the battle for online deposits, but it has benefited from a key rival's retreat in auto lending. Auto lending Deposits Digital banking Wealth management Ally Financial Ally Bank MORE
If there is one reason retailers must move forward with a mobile app strategy it’s this: consumers not paying in cash spend an average of 13 percent more when it’s a mobile payment experience MORE
TCF Bank is offering that deal to any Michigan resident who comes into one of its 50 Detroit area branches. Bankaholic has all of the best CD rates. CD Rates 18-month cd best cd rates certificates of deposit tcf bank MORE
The Detroit lender developed rotational training programs in auto finance, accounting and technology to help attract and keep promising employees, especially millennials, who had a tendency to bolt. Best Banks to Work For Community banking Training Employee retention MORE
Ally Financial in Detroit swung to a profit in the second quarter as a tax benefit outweighed the costs of insurance payouts on hailstorm-damaged vehicles. breaking_news consumer-finance earnings-national-regional-banks auto mi national-regional MORE
The Seattle startup went so far as to open a Detroit office to cozy up to the auto industry. Mighty AI spent much of its first five years building software that helps self-driving cars recognize real-world objects. MORE
But you wouldn’t know it by looking at the lineup of this year’s North American International Auto Show in Detroit. High-riding, gas-guzzling, wide-bodied SUVs were more popular among U.S. and international drivers than ever in 2016. Half of the 20 new models unveiled this year were sedans, station wagons and coupes. Which seems odd, since SUVs, trucks and crossover models by far outsold traditional car models in 2016. MORE
Personal Finance Cameron Huddleston GoBankingRates The Detroit NewsPop quiz: Which of the following statements is true? Rich people are greedy. Money corrupts people. People get rich by taking advantage of others. Good people should not care about money. All of the above. MORE
In fact, we’re growing faster outside the Bay Area than within it, and this year opened new offices and data centers in locations like Detroit, Boulder, Los Angeles, Tennessee, and Alabama,” wrote Google CFO Ruth Porat, according to reports. . MORE
The news comes as the Detroit Lions deployed digital and physical upgrades to kick its dining game up a notch in the midst of significant renovations to the Ford Field stadium. To help keep the prices of food and drinks low, the Mercedes-Benz Stadium in Atlanta is about to become cashless. Only credit cards, debit cards and mobile payments will be accepted at the venue beginning on March 10, Bloomberg reported. MORE
Oakland, San Jose, San Francisco, Detroit, Austin, Boston and Chicago. Detroit. Amazon is opening a 1 million-square-foot warehouse in metro Detroit and plans to hire 1,000 employees to fill it. Amazon Amazon Concord Amazon Detroit Amazon Headquarters Amazon Jobs Amazon Mexico City Amazon offices Amazon San Diego Amazon warehouses ecommerce eCommerce giant international News Retail Whole Foods MORE
The company then quickly extended the service to almost 30 cities, including Los Angeles, Houston and Detroit. Amazon has expanded its two-hour delivery service for Whole Foods customers to almost 30 cities in an attempt to take on Walmart. MORE
Crain's Detroit Business is reporting that Michigan First Credit Union (Lathrup Village, MI) sued Palace Sports & Entertainment and the Detroit Pistons. The complaint alleged that the Piston breached a 2016 sponsorship agreement, when it signed an exclusive agreement deal with Flagstar Bancorp over its move from the Palace of Auburn Hills to Little Caesars Arena in Detroit. MORE
But Detroit-based Ally, which has no branches, was the one of the earliest digital-only banking players, rolling out a product suite a decade ago when it rebranded from General Motors Acceptance Corporation. With the rise of digital-only challenger banks, it’s easy to overlook Ally Bank. MORE
The combined company will be based in Detroit, Chemical's hometown, and operate under the TCF brand. Chemical is paying roughly $3.6 billion for the $23.5 billion-asset TCF. M&A Commercial banking Commercial lending Deposits Wealth management Community banking Minnesota Michigan MORE
Quicken Loans plans to appeal a recent federal labor ruling that the Detroit lender and other companies owned by Dan Gilbert violated employees' rights. breaking_news law-regulation national-regional mortgage nonbank housing consumer-finance MORE
Detroit Lions Add Mobile Order-Ahead to the Playbook. To tackle the issue, the Detroit Lions are exploring whether mobile order-ahead for pickup can remove that pain for fans seated in its Gridiron Club section, as well as drive traffic to the four new restaurants available at the club. MORE
The Michigan Office of Financial and Insurance Regulation (OFIR) today liquidated Amez United Credit Union of Detroit, Mich., Originally chartered in 1961, Amez United Credit Union served registered members of the churches in the Detroit district of the Michigan Conference of the African Methodist Episcopal Zion Church. and appointed the National Credit Union Administration (NCUA) as liquidating agent. MORE
The online bank will consolidate all of its Charlotte-area employees into a new office tower, but its headquarters will remain in Detroit. CRE Online banking Consumer banking Ally Financial MORE
Personal Finance african american Debt Detroit Free Press Hispanic Millennials millinnials MinoritiesGabriela Santiago-Romero, 24, knows too well how easy it is for younger consumers to be late with making payments on credit card bills. MORE
The Detroit bank wants to focus on its core business instead, but other institutions have seen rapid growth in loans for recreational vehicles and other large pieces of transportation equipment. Commercial lending Auto lending Auto industry Ally Financial Ally Bank MORE
The bank, which would be only the second to call the Motor City home, would hire 500 people there while maintaining most of its workforce in Midland. Community banking Deposits Recruiting Michigan MORE
Detroit Related Topics PYMNTS
MARCH 16, 2018
Detroit Lions Add Mobile Order-Ahead to the Playbook. To tackle the issue, the Detroit Lions are exploring whether mobile order-ahead for pickup can remove that pain for fans seated in its Gridiron Club section, as well as drive traffic to the four new restaurants available at the club.
PYMNTS
APRIL 23, 2019
In other self-driving news, Reuters is reporting that Waymo, a company under the umbrella of Alphabet, which owns Google, has picked a Detroit factory to make self-driving cars. Tesla CEO Elon Musk said he will launch the company’s robotaxi program by 2020, according to reports. “I
BankThink
SEPTEMBER 18, 2019
The company will pay $42 million in cash for the parent of Main Street Bank in southeastern Michigan. Community banking M&A Growth strategies Michigan
BankThink
NOVEMBER 21, 2018
The Michigan company has committed $50,000 to the partnership over the next two years amid a big push to modernize its product and service offerings. Fintech Community banking Consumer banking Flagstar Bancorp Michigan
Perficient Financial Servies
APRIL 23, 2018
For those in the Detroit area, the Perficient office in Livonia is hosting the SouthEast Michigan Atlassian User Group (AUG) on April 24th. The AUG commonly meets in the Livonia/Detroit Perficient office for the Tuesday evening event, followed by an encore presentation at lunch the following day in Ann Arbor at the Ithaka office. The SouthEast Michigan AUG meets the last Tuesday of every other month for the 2018 year.
Mobile Payments Today
AUGUST 4, 2016
If there is one reason retailers must move forward with a mobile app strategy it’s this: consumers not paying in cash spend an average of 13 percent more when it’s a mobile payment experience
PYMNTS
JANUARY 12, 2017
But you wouldn’t know it by looking at the lineup of this year’s North American International Auto Show in Detroit. High-riding, gas-guzzling, wide-bodied SUVs were more popular among U.S. and international drivers than ever in 2016. Half of the 20 new models unveiled this year were sedans, station wagons and coupes. Which seems odd, since SUVs, trucks and crossover models by far outsold traditional car models in 2016.
BankThink
JULY 25, 2018
The bank, which would be only the second to call the Motor City home, would hire 500 people there while maintaining most of its workforce in Midland. Community banking Deposits Recruiting Michigan
BankThink
JUNE 25, 2018
The Cincinnati bank is following a wider industry strategy of opening new branches in faster-growth, urban markets. Growth strategies Consumer banking Branch management Fifth Third Bancorp
Keith Leggett's Credit Union Watch
FEBRUARY 19, 2013
The Michigan Office of Financial and Insurance Regulation (OFIR) today liquidated Amez United Credit Union of Detroit, Mich., Originally chartered in 1961, Amez United Credit Union served registered members of the churches in the Detroit district of the Michigan Conference of the African Methodist Episcopal Zion Church. and appointed the National Credit Union Administration (NCUA) as liquidating agent.
PYMNTS
NOVEMBER 14, 2018
The campaign will also offer financial literacy programs, produced in partnership with WFCU’s NFL partner, the Detroit Lions.
Keith Leggett's Credit Union Watch
MARCH 3, 2018
Crain's Detroit Business is reporting that Michigan First Credit Union (Lathrup Village, MI) sued Palace Sports & Entertainment and the Detroit Pistons. The complaint alleged that the Piston breached a 2016 sponsorship agreement, when it signed an exclusive agreement deal with Flagstar Bancorp over its move from the Palace of Auburn Hills to Little Caesars Arena in Detroit.
PYMNTS
MARCH 16, 2018
15 Percent of the Detroit Lions Gridiron Club members who’ve tested their new order-ahead app so far. Today In Data Detroit Lions Dunkin’ Donuts mobile apps News parking meters payments data QSRs Today in Data traffic
PYMNTS
SEPTEMBER 15, 2017
Oakland, San Jose, San Francisco, Detroit, Austin, Boston and Chicago. Detroit. Amazon is opening a 1 million-square-foot warehouse in metro Detroit and plans to hire 1,000 employees to fill it. Amazon Amazon Concord Amazon Detroit Amazon Headquarters Amazon Jobs Amazon Mexico City Amazon offices Amazon San Diego Amazon warehouses ecommerce eCommerce giant international News Retail Whole Foods
Bank Innovation
SEPTEMBER 5, 2019
But Detroit-based Ally, which has no branches, was the one of the earliest digital-only banking players, rolling out a product suite a decade ago when it rebranded from General Motors Acceptance Corporation. With the rise of digital-only challenger banks, it’s easy to overlook Ally Bank.
BankThink
APRIL 16, 2015
Mortgage lenders are stressed about how the CFPB''s new mortgage disclosure rule will impact their business. But the new forms may give them a chance to improve business performance. law-regulation
Bank Innovation
APRIL 19, 2019
The Detroit, Mich.-based based online-only bank, Ally Financial, had 120,000 new deposit customers in the first quarter on 2019, CEO Jeff Brown said on the bank's 1Q earnings call Thursday, bringing the Ally’s total depositor count to 1.77 million — a 20% YoY increase.
ABA Community Banking
DECEMBER 2, 2016
Institutions see opportunity in Detroit, reversing trend of shrinking branch footprint Management M&A. 1Management
Bankrate
NOVEMBER 13, 2015
TCF Bank is offering that deal to any Michigan resident who comes into one of its 50 Detroit area branches. Bankaholic has all of the best CD rates. CD Rates 18-month cd best cd rates certificates of deposit tcf bank
Bank Innovation
JANUARY 22, 2019
The Seattle startup went so far as to open a Detroit office to cozy up to the auto industry. Mighty AI spent much of its first five years building software that helps self-driving cars recognize real-world objects.
Let's Talk Payments
MARCH 14, 2017
Detroit MI: Autobooks, a financial technology company that builds cash management tools to help small business owners, announced the closing of a $5.5
Let's Talk Payments
AUGUST 20, 2016
Discover Ranks highest in credit card customer satisfaction for third consecutive year DETROIT: 18 August 2016 — At least one in five credit card customers are carrying the wrong card, Cards Commerce Credit Unions News Payments Asia Europe insights US
BankThink
JANUARY 28, 2019
The combined company will be based in Detroit, Chemical's hometown, and operate under the TCF brand. Chemical is paying roughly $3.6 billion for the $23.5 billion-asset TCF. M&A Commercial banking Commercial lending Deposits Wealth management Community banking Minnesota Michigan
BankThink
JULY 27, 2017
The Detroit company is capitalizing on other banks' retreat from the auto sector. Auto lending Consumer lending Deposits Earnings Ally Financial Ally Bank
CU Insight
JUNE 10, 2016
Personal Finance african american Debt Detroit Free Press Hispanic Millennials millinnials MinoritiesGabriela Santiago-Romero, 24, knows too well how easy it is for younger consumers to be late with making payments on credit card bills.
BankThink
AUGUST 29, 2018
The Detroit bank wants to focus on its core business instead, but other institutions have seen rapid growth in loans for recreational vehicles and other large pieces of transportation equipment. Commercial lending Auto lending Auto industry Ally Financial Ally Bank
CU Insight
MAY 2, 2016
Personal Finance Cameron Huddleston GoBankingRates The Detroit NewsPop quiz: Which of the following statements is true? Rich people are greedy. Money corrupts people. People get rich by taking advantage of others. Good people should not care about money. All of the above.
BankThink
JULY 26, 2018
The Detroit company is facing stiffer competition in the battle for online deposits, but it has benefited from a key rival's retreat in auto lending. Auto lending Deposits Digital banking Wealth management Ally Financial Ally Bank
CU Insight
MARCH 27, 2016
Personal Finance brain Detroit News George Loewenstein Jennifer Calonia Saving MoneyWhile it seems like a utopian concept, the argument that some consumers could be addicted to saving money might not be as inconceivable as it sounds.
PYMNTS
SEPTEMBER 22, 2019
The company then quickly extended the service to almost 30 cities, including Los Angeles, Houston and Detroit. Amazon has expanded its two-hour delivery service for Whole Foods customers to almost 30 cities in an attempt to take on Walmart.
BankThink
SEPTEMBER 20, 2017
The online bank will consolidate all of its Charlotte-area employees into a new office tower, but its headquarters will remain in Detroit. CRE Online banking Consumer banking Ally Financial
BankThink
SEPTEMBER 11, 2017
The Detroit lender developed rotational training programs in auto finance, accounting and technology to help attract and keep promising employees, especially millennials, who had a tendency to bolt. Best Banks to Work For Community banking Training Employee retention
American Banker
JULY 26, 2016
Ally Financial in Detroit swung to a profit in the second quarter as a tax benefit outweighed the costs of insurance payouts on hailstorm-damaged vehicles. breaking_news consumer-finance earnings-national-regional-banks auto mi national-regional
American Banker
JANUARY 4, 2017
Ally Financial in Detroit has agreed to provide up to $600 million in financial backing for Carvana’s online auto sales. breaking_news consumer-finance auto mi az national-regional
PYMNTS
MARCH 4, 2019
The news comes as the Detroit Lions deployed digital and physical upgrades to kick its dining game up a notch in the midst of significant renovations to the Ford Field stadium. To help keep the prices of food and drinks low, the Mercedes-Benz Stadium in Atlanta is about to become cashless. Only credit cards, debit cards and mobile payments will be accepted at the venue beginning on March 10, Bloomberg reported.
American Banker
NOVEMBER 21, 2016
Ally Financial in Detroit has agreed to pay $52 million to settle probes and claims related to its role as the underwriter for subprime mortgage backed securities in 2006 and 2007. breaking_news national-regional law-regulation auto mortgage mi consumer-finance
BankThink
JANUARY 30, 2018
The Detroit company recorded an 11% increase in car loans and leases originated during the fourth quarter, as well as a jump in yields. Ally appears to be benefiting from Wells Fargo's substantial retrenchment in auto lending. Auto lending Auto leasing Deposits Earnings Consumer lending Subprime lending Ally Financial Ally Bank
American Banker
APRIL 19, 2016
Ally Financial has blasted a proxy advisory firm for its recommendation that shareholders vote against the re-election of four of the Detroit company's directors. breaking_news auto consumer-finance mi national-regional
American Banker
APRIL 12, 2016
Quicken Loans plans to appeal a recent federal labor ruling that the Detroit lender and other companies owned by Dan Gilbert violated employees' rights. breaking_news law-regulation national-regional mortgage nonbank housing consumer-finance
American Banker
MARCH 21, 2016
Ally Financial in Detroit reached a truce with Lion Point Capital, as it agreed to appoint an independent director in consultation with the activist investor. breaking_news consumer-finance dealmaking-strategy auto strategic-alternatives mi national-regional
PYMNTS
SEPTEMBER 5, 2019
Verizon’s 5G stadiums include those of the Seattle Seahawks, Denver Broncos, Detroit Lions, New England Patriots, Miami Dolphins, Indianapolis Colts, Carolina Panthers, New York Giants and Jets, Baltimore Ravens, Houston Texans and Minnesota Vikings.
PYMNTS
SEPTEMBER 19, 2019
The company carries brands such as the Detroit Spice Company and Lush Gourmet (Nuts). Michiganders may have a cottage up north, treat 50 degrees as “shorts weather” and consider Superman ice cream to be a symbol of their childhoods.
PYMNTS
FEBRUARY 17, 2019
In fact, we’re growing faster outside the Bay Area than within it, and this year opened new offices and data centers in locations like Detroit, Boulder, Los Angeles, Tennessee, and Alabama,” wrote Google CFO Ruth Porat, according to reports. .
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