Item 8.01 Other Events. OnNovember 16, 2020 ,Ally Financial Inc. ("Ally") provided notice toThe Northern Trust Company , in its capacity as processing agent for Ally's Variable Denomination Adjustable Rate Demand Notes (the "Demand Notes") program, that Ally intends to terminate the Demand Notes program and redeem in full all outstanding Demand Notes as ofFebruary 26, 2021 . In connection with the termination and redemption, Ally will terminate its processing agent agreement with TheNorthern Trust Company. The current aggregate principal amount of outstanding Demand Notes held by investors that are not wholly-owned subsidiaries ofAlly Financial Inc. is approximately$2.5 billion and the interest rate is determined on a weekly basis and may vary based on outstanding account balance. Holders of Demand Notes may continue to demand repayment of Demand Notes at any time in advance of the redemption by Ally, as permitted under the terms of the Demand Notes.
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