A Charlotte-based subsidiary of Ally Financial has been ordered to pay a $500,000 penalty over its robo-advisor practices. The Charlotte Observer reports that Ally Invest Advisors was investigated for failing to clearly disclose that some “robo-advisor” investment accounts kept about 30% of customers’ money in cash, a move regulators say helped offset lost fees.
© 2026 WFAE
Mailing Address:
WFAE 90.7
P.O. Box 896890
Charlotte, NC 28289-6890
Tax ID: 56-1803808
Mailing Address:
WFAE 90.7
P.O. Box 896890
Charlotte, NC 28289-6890
Tax ID: 56-1803808
90.7 Charlotte 93.7 Southern Pines
90.3 Hickory 106.1 Laurinburg
Play Live Radio
Next Up:
0:00
0:00
Available On Air Stations