GMAC Financial Services will change its corporate name to Ally Financial Inc. on Monday, May 10. The switch will not affect GMAC's dealer network in the foreseeable future. Although the auto finance division eventually may use the Ally brand, the lender's automotive operations will continue to do business under the GMAC name, the company told dealers.
GMAC has a license from General Motors Co. to use the GMAC name for its automotive operations until 2016. The lender already uses the name Ally Bank for its online banking portal.