Ally Bank receives approval for new regulator
March 09, 2016 at 16:49 PM EST
The same people watching over its parent company are now regulating Ally Bank. Ally Financial (NYSE:ALLY) announced Wednesday its banking subsidiary Ally Bank received approval from the Federal Reserve to become a state member bank and be regulated by the Board of Governors of the Federal Reserve System through the Federal Reserve Bank of Chicago — the same body regulating Ally Financial...