Ally Financial wants to be your friend in the financing business. In addition to owning the branchless Ally Bank, the company provides auto financing for 17,500 auto dealerships (mostly GM and Chrysler) and their customers. Ally Financial also provides financing services for large- and mid-market companies through Ally Corporate Finance (formerly GMAC Commercial Finance). It exited the mortgage business in 2013 when Residential Capital (ResCap) went bankrupt. Formerly known as GMAC, and once majority-owned by US taxpayers following a federal bailout in 2008, Ally Financial went public in 2014.