Source: The Canadian Press

Toronto-Dominion Bank (TSX:TD) is reported to be one of at least two potential buyers for Chrysler Financial Corp., a privately owned U.S. company ssid to be worth up to US$7 billion.

Bloomberg news service reported Tuesday that TD is in talks to buy the auto loan company currently owned by Cerberus Capital Management LP, citing unidentified sources.

The Wall Street Journal’s online site said one of its sources had also heard TD was talking with Cerberus as was the Netherlands-based ING Group and other parties.

TD’s spokesman said the bank doesn’t comment on rumours and speculation.

The Bloomberg article said an agreement could be reached as soon as this week, although it acknowledged there were other potential buyers in talks and the deal may be delayed or fall apart.

Chrysler Financial was originally an arm of Chrysler Corp. but is now a separate company owned by Cerberus, a private equity firm based in New York City.