By Scott Ronalds

The Canadian clients of Ally Financial got news this week that the sale of the firm to RBC has been completed, the interest rate on their high-interest savings accounts is being reduced from 1.8% to 1.2%, and their accounts will be closed on April 30th, as reported in the Globe and Mail. The notice has caused outrage with many Ally clients and lit up the twittersphere:

• @Greggwfg: RBC buys Ally and lowers the Ally client account interest rates from 1.8% to 1.2%...could it be any more obvious how greedy these banks are?
  
• @jacquiemcnish: There goes competition, again in banking sector. RBC to shut down Ally’s high-interest savings accounts
  
• @GailVazOxlade: Bite me RBC! Check out the options peeps: http://t.co/ItjO7t9KrV

Contrary to Ally’s tag line, it’s clear that many of their clients don’t think this move is “Just the right thing to do.” It’s funny, but I feel like I’ve lived this story before. It reminds me of a clever ad I saw a year or so ago.