Ally Bank’s philosophy is to do right for our customers by offering them a straightforward banking experience with no hidden fees or surprises. We took that commitment one step further last year, becoming the first bank to implement The Pew Charitable Trusts’ guidelines best and good practices across our entire product line by developing Straight Talk Product Guides for Ally Bank deposit accounts.
We do our best to make our fees and policies easy to understand and that’s why we’re excited to announce our score in the latest Pew Charitable Trusts “Checks and Balances” bank study.
Pew conducts research and develops model consumer protection policies for financial institutions. Pew’s research rates the largest banks on how clear and well-ordered their fees and terms are for consumers.
Pew evaluated banks across three categories:
- clear and concise disclosures
- overdraft reduction
- dispute resolution
This year, Ally Bank was the only financial institution of the 44 banks studied to meet all of Pew’s “best” and “good” practice criteria, earning a perfect score (7 out of 7 “Best Practices” and 11 out of 11 “Good Practices”).
“Ally has always worked to make our disclosures and practices straightforward and easy to understand,” said Diane Morais, Ally Bank deposits and line of business integration executive. “The easier it is for consumers to compare banks, the more the value of Ally stands out.”