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Is Ally Bank a different bank from GMAC Bank?

April 26, 2017ally Bank different GMAC

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Is Ally Bank a different bank from GMAC Bank?

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Ally Bank used to be called GMAC Bank. It’s the same bank. Deposits you made when we were GMAC Bank, along with any new deposits you make now that we are Ally Bank, are insured up to $250,000 per depositor. Read more about FDIC.