TD Bank sees Chrysler Financial deal as key to expansion

Supreme Court of Canada.
Canada's TD Bank Financial Group views its purchase of Chrysler Financial for $6.3 billion as a fairly conservative gamble on the future of car loans in the U.S. The bank values the loans it is buying at about $5.9 billion, putting TD Bank's true cost at less than $1 billion. The acquisition allows TD to expand its presence in the U.S., where it already has more than 1,200 branches. Full story here