Its TV and print ads poke fun at the bait-and-switch tactics of other banks. Its interest rates on CDs have been the most generous in the industry.

Ally Bank's tactics have drawn in customers, but they've also irked rivals and gotten the attention of regulators. At the heart of the bank's aggressive wooing of depositors is this: As the rebranded banking unit of GMAC Financial Services, Ally Bank has the backing of billions of dollars loaned to GMAC by the federal government.

After the name change in May, Ally offered a 2.8 percent interest rate on 1-year CDs. That was more than double the national average of 1.23 percent, according to Bankrate.com.

Federal regulators have since intervened, after an industry group expressed concerns about Ally's ability to afford to pay such rates for deposits.

Still, company executives note that Ally's rates remain competitive. Ally currently pays 1.93 percent on a 1-year CD, much closer to the national average of 1.72 percent. And the bank continues to burnish its populist image in a national media campaign.

For its third quarter, Ally said retail deposits hit $15.9 billion. That's up from $14.5 billion, $11 billion and $7.2 billion in the previous quarters. Deposits are critical to GMAC, which uses them to fund auto loans and mortgages.

Yet Ally's growing deposits aren't sitting well with some.

In a May 27 letter to the Federal Deposit Insurance Corp., the American Bankers Association complained that Ally's rates could end up compounding its problems. The bank had just posted a first-quarter loss of $675 million. The letter also pointed out that Ally's strategy was possible only because of the government bailout of GMAC.