As of May 15, 2009, GMAC’s banking unit officially changed its name to Ally Bank. It is a bank holding company headquartered in Detroit, Michigan. With more than 15 million customers worldwide, Ally Financial provides a range of financial services including auto financing, insurance, mortgage services, and online banking.
At one time, during the crisis bailout, the U.S. Treasury owned about 56% of GMAC, and as of January 2011 the Treasury still held a considerable amount of the Ally stock.
However, it is not affiliated with Freddie Mac.