Ally Financial Inc. - ALLY STOCK NEWS

Ally Financial Inc. (NYSE: ALLY) has announced its 2021 annual meeting of stockholders will take place on Tuesday, May 4, 2021. Further details will be available in the company's proxy statement. As of June 30, 2020, Ally reported $184.1 billion in assets, emphasizing its position as a leading digital financial services provider. The company focuses on delivering innovative solutions and excellent customer service, operating one of the largest full-service automotive finance operations in the U.S.

Ally Financial, in partnership with TMCF and the Sean Anderson Foundation, is hosting the Moguls in the Making virtual pitch competition from October 8-11, 2020. This program engages 50 students from 10 HBCUs, enabling them to develop business plans addressing current economic and social challenges. The competition showcases diverse ideas and awards scholarships and internships to winners. Ally emphasizes the importance of HBCUs in fostering Black leadership, as they significantly contribute to the professional fields of Black judges, lawyers, and doctors.

On October 7, 2020, Ally Financial Inc. (NYSE: ALLY) announced a quarterly cash dividend of $0.19 per share, payable on November 13, 2020, to shareholders on record as of October 30, 2020. As of June 30, 2020, the company reported assets totaling $184.1 billion. Ally Financial is recognized as a leading digital financial services provider, delivering innovative solutions in automotive finance, banking, and investment services.

Ally Financial will continue its full-season primary sponsorship of the No. 48 Chevrolet Camaro ZL1 1LE driven by Alex Bowman in the 2021 NASCAR Cup Series. Bowman, enjoying a career-best year with multiple top 10 rankings, will be paired with crew chief Greg Ives, who has a successful record with the team. Ally has been the primary sponsor for two years and is committed to expanding NASCAR's reach. The partnership is expected to enhance team performance as Bowman transitions from the No. 88 entry, with the season concluding on November 8, 2020.

Ally Financial Inc. (NYSE: ALLY) announced a $30 million investment over three years to enhance economic mobility in its communities. This initiative includes the formation of the Ally Charitable Foundation, which will distribute grants focused on affordable housing, financial literacy, and workforce preparedness. The foundation's inaugural $1.6 million grants will assist nonprofit organizations, particularly supporting Black and Brown small business owners in the Twin Cities and Little Rock. Ally aims to address economic disparities and promote equity through this philanthropic effort.

Ally Financial is set to release its third quarter financial results on October 16, 2020, at 7:30 a.m. ET. The results will be available through PR Newswire and on Ally's Press Room website. A conference call will follow at 9:00 a.m. ET, discussing the financial performance and allowing for a Q&A session. For those interested in listening, the call can be accessed by dialing 844-530-6677 or via webcast on Ally's Investor Relations site. A replay will be available from 12:00 p.m. ET on October 16 until October 23.

Sezzle Inc. has announced a new partnership with Ally Lending, the lending arm of Ally Financial (NYSE: ALLY). This collaboration will enhance Sezzle's financing options, allowing consumers to access long-term installment loans of up to US$40,000 for up to 60 months. The partnership aims to support consumers in managing their finances better, especially in the current economic climate. Sezzle's platform currently serves over 1.6 million consumers and 17,600 merchants, promoting financial empowerment through interest-free payment plans.

Ally Lending, a division of Ally Financial (NYSE: ALLY), has partnered with Sezzle to enhance retail market lending through installment payment solutions. This collaboration aims to meet the growing consumer demand for flexible payment options, as 81% of surveyed consumers expressed interest in using installment plans. Ally will offer a fully digital application process for loans up to $40,000, with repayment periods extending up to 60 months. This partnership is set to launch in Q1 2021, allowing consumers to manage purchases more effectively at over 10,000 merchants.