Ally Bank Ally Financial, GMAC Mortgage, GMAC Insurance, Nuvell Make Taypayer-Owned Ally Financial Accountable for its Violations of the U.S. Constitution Detroit Michigan

 Ally then known as GMAC took my car and then went after my home.  My experience is as described below.  No need to reinvent the wheel.

Ally Financial is the parent company for Ally Bank, GMAC Mortgage and GMAC ResCap (individually and/or collectively, “Ally”).  Ally received $17.2 billion in taxpayer bailout money resulting in the federal government owning a 74% stake in Ally. As a government owned corporation, Ally should have never been able to take people’s homes and livelihoods without the due process of the law guaranteed by the United States Constitution.  Even if social economic and human rights issues do not appeal to you, sign this petition if you care about getting the best return on the taxpayer investment.  http://chn.ge/1iz3BwV  Below is a brief history of how this self-proclaimed “Ally” of the people became “Bully” and obtained the means to conduct a campaign of foreclosure and discrimination.

· On December 24, 2008, the Federal Reserve Board approved Ally’s application to become a bank holding company through a shorter than normal approval process. · On December 29, 2008, the U.S. Treasury invested $5 billion in Ally from  Troubled Asset Relief Program (TARP).
· On May 15, 2009, GMAC's banking unit changed its name to Ally Bank and it began an aggressive marketing campaign in order to obtain customer bank deposits as an easy source of low cost funding for its riskier investments.
· On May 21, 2009, the U.S. Treasury announced it would invest an additional $7.5 billion in Ally.
· From June to December 2009, Ally fired employees managing cost cutting initiatives after they tried to reduce the fees charged by Ally’s accountants, lawyers and other consultants to those fees more consistent with market rates.
· On December 30, 2009, the U.S. Treasury announced that they would invest another $3.8 billion in Ally raising the total government investment in Ally to $16.3 billion.
· On May 10, 2010, GMAC Inc. announced that it re-branded itself as Ally Financial Inc.
· On June 7, 2010, an Ally team leader in the foreclosure execution department, dubbed as a “robosigner” admitted to signing 10,000 false foreclosure affidavits a month.
· In October 2010 several state attorney generals sued Ally for knowingly presenting false affidavits and false documents to the court.
· On December 30, 2010, the U.S. Treasury announced it would be converting $5.5 billion of interest-bearing preferred Ally stock into common equity.
· In 2009 and 2010, Ally Financial through its GMAC Mortgage subsidiary foreclosed or attempted to foreclose on over 230,000 homes, many of which were illegally done. [Listen to a recorded modification attempt with GMAC Mortgage at https://www.youtube.com/watch?v=n8ANLwl8_F4]
· In July 2011, Ally internal documents were revealed showing employees creating and signing false assignments from then nonexistent mortgage lenders.
· In March 2012, Ally failed the Federal Reserve's financial "stress test" for capital adequacy. · On May 15, 2012, Ally put its ResCap subsidiary into Chapter 11 bankruptcy after it failed to make an interest payment of $20 million on unsecured debt.
· In 2012, Ally Financial was still filing false affidavits to support its legal positions.
· Ally made $1.2 billion in 2012.
· On January 30, 2013, the Office of the Special Inspector General for the Troubled Asset Relief Program wrote a report that said that the U.S. Treasury never required Ally to submit a plan to address how it would resolve its substantial liabilities.
· In February 2013, Ally asked the bankruptcy court to consider the homeowners who were wronged during the foreclosure process as ordinary unsecured creditors, pushed to the back of the line for relief.
· In March 2013, Ally’s accountant, Price Waterhouse, told a bankruptcy judge that it would get paid at least $300 million for the foreclosure reviews demonstrating how Ally prefers to pay its service suppliers instead of pay back the customers. · March 4, 2013, United States Attorney for the Eastern District of Michigan, Barbara McQuade argued in a government brief that Ally was not a government actor because there was no evidence the U.S. Treasury was controlling Ally in order to protect the American taxpayer investment.
· March 7, 2013, Ally again failed the Federal Reserve’s financial “stress test” for capital. · In July 2013, GMAC Mortgage agreed to pay 232,000 consumers $230 million to address claims it improperly seized homes. That amounts to an average of less than $1,000 per consumer which is what some of Ally’s suppliers are paid per employee each hour of work.
· On December 20, 2013, Ally agreed to pay $98 million to address its auto loan pricing structure for illegally violating the rights of more than 235,000 minority consumers which will result in those victims receiving on average less than $400 each.

In the case, Lebron v. National Railroad Passenger Corp, 513 U.S. 374 (1992), the U.S. Supreme Court held that government owned and controlled corporations are an agency or instrumentality of the United States for the purpose of individual rights guaranteed against the government by the Constitution. That conclusion is supported by both Title 5 of the U.S. Code (5 U.S.C. 103) and the Government Corporation Control Act ((GCCA) 31 U.S.C. 9101-10). This government actor status does not bestow the benefit of governmental immunity on these corporations. Corporations shouldn’t get to be backed by taxpayer money without complying with the Constitution. Thus far, it has been financially worth it for Ally to violate its customers rights.  Federal cases demonstrate a predisposition in favor of Ally unless the opposing party is a federal government entity or a consumer group with great political or public influence. Sign this petition so as a collective group we have a chance to get some results.

What could it mean if Ally is considered a federal government actor? It may mean that during its period of government ownership beginning in late 2008, a) Ally and its subsidiaries were required to grant the public rights to procedural and substantive due process before property was taken, b) homeowners could have had the right to just compensation for the taking of their private property, c) Ally would be subject to broader First Amendment requirements, and d) consumers and employees would get the right to equal protection under the law. Best of all, if Ally was considered a government actor, someone in authority would actually pay attention to what Ally was doing with the taxpayer investment, Ally would no longer be dominated by high-priced suppliers like lawyers and accountants, unnecessary expenditures would stop and taxpayers would get paid back.

A key part of Ally’s propaganda was rebranding itself as Ally with numerous commercials representing that Ally Bank is better to its customers than other banks. Do not be misled. Ally Bank is like a white washed grave. It has been repackaged to look clean and honest but inside it is still the same company that used robosigning of false affidavits to target hundreds of thousands of homes. If Ally Bank failed, the FDIC would be on the hook for the deposits that were insured. The U.S. government is essentially sitting in the dual role of investor and insurer. The only way to make Ally appreciate the customers it relies on so heavily for low cost funds in the form of deposits is to hit it where it hurts. You can be a factor in how this story ends for every taxpayer by signing this petition, sending it to everyone you know and refusing to bank with Ally Bank until Ally makes reasonable restitution for its bad acts and either the U.S. Treasury or the U.S. Supreme Court actually makes Ally liable for its actions in a meaningful way.