Talk about calling the kettle black. Ally Bank, an online bank owned entirely by GMAC Financial Services, who in turn is a ward of the State, remakes itself without disclosure of who they were/are and then accuses other banks of sneaky fees, fine print, poor service and double talk.

I’m sure you saw their pony commercial where they ask one little girl, “Would you like a pony?  The girl says yes and a bank rep pulls out a plastic pony from his pocket and gives it to the first girl.

He then turns to the second little girl and says, “Would you like a pony?  The girl says yes.  The bank rep makes a clicking sound and a real pony comes forward.

“Wow, that’s fun,” the second girl says.

“You didn’t say you could have a real one,” the first girl responds.

Bank rep says, “Well you didn’t ask.”

Voice over says, “Even kids know its wrong to hold out on somebody, why don’t banks?

“We’re Ally a new bank that alerts you when your money can be working harder and earning more.  It’s the right thing to do.” (View Commercial)

New bank?  No, it’s a makeover from the old GMAC, which they fail to reveal to potential new customers.  They are the recipient of billions of dollars of bailout funds remaking themselves and pretending the new/old bank is better than every other bank.

The FDIC clamped down on Ally and told them that they were paying too much money in interest to its customers and ordered it to lower the rates.  The federal government owns just over a third of the company and may end up with the majority of Ally.

So much for forthrightness when you’re living in a glass house.