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Business Briefing / Financial Crisis

Chrysler Financial repays TARP loan

July 15, 2009|Times Wire Reports

Chrysler Financial, the former lending arm of automaker Chrysler, said it repaid a $1.5 billion, five-year loan it received in January from the federal government's Troubled Asset Relief Program.

The company raised the money by packaging and selling top-rated car loans to investors using the government's Term Asset-Backed Securities Loan Facility, according to a statement.

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