[DM6156]

TORONTO (AP) -- Toronto-Dominion Bank has agreed to buy Chrysler Financial, the automaker's old lending arm, from private equity firm Cerberus Capital Management LP for $6.3 billion.



http://finance.yahoo.com/news/TD-Ba...2.html?x=0&sec=topStories&pos=1&asset=&ccode=


- Dan M

 

[navy48]

actually.....Chrysler Financial has just 'gone' period. THE financial institution used by Chrysler Motors LLC is now Ally.

 

[Schoat333]

Great, I hope i don't have to go thru that password debacle again when they change the website.

 

[Hitzy]

Wonder if they will start leasing again?

 

[MB]

Actually Ally Bank was formed in 2009 by Chrysler Financial. TD Bank has just purchased Chrysler Financial so now they own Ally Bank too.

In my area TD Bank has just purchased Carolina Trust Bank. So that Canadian bank is obviously doing well now when other banks aren't.

 

[sebring96hbg]

Actually Ally Bank was formed in 2009 by Chrysler Financial. TD Bank has just purchased Chrysler Financial so now they own Ally Bank too.

In my area TD Bank has just purchased Carolina Trust Bank. So that Canadian bank is obviously doing well now when other banks aren't.

Ally is the former GMAC. Cerberus used to own controlling stakes in both GMAC and Chrysler Financial. Since the formation of Chrysler Group LLC in June 2009, Chrysler Group has named GMAC as its preferred lender because the US Treasury restricted the no longer corporately related Chrysler Financial from writing new loans.

To be clear, Chrysler Financial and Chrysler Group LLC have always been separate and unrelated entities.

 

[UA_who]

Great! Now what are those crazy Canadians going to do! The whole world is heading downhill.



j/k