Ally Files With The SEC For An IPO Later This Year

There have been rumors of an IPO for a while, but it's now official with the IPO filing. According to the Wall Street Journal, Ally "is aiming to raise about $5 billion in its initial public offering of shares."

Hopefully it will end the FDIC capping Ally Bank's deposit rates. In 2009, the FDIC supposedly started capping Ally's rates after the ABA complained.