Ally Bank has implemented The Pew Charitable Trust's disclosure format for key fees, terms and conditions for all of its deposit products a first for any bank, executives say.
"The Ally Bank team constantly challenges itself to go beyond consumer expectations to set a new standard for customer service," said Diane Morais, Ally Bank deposits and line of business integration executive. "Ally has always worked to make our disclosures and practices straightforward and easy to understand, so applying the Pew format was a natural next step. The easier it is for consumers to compare banks, the more the value of Ally stands out."
The consumer-friendly format is designed to help customers of the Midvale-headquartered bank better understand fees and policies.