DETROIT (AP) -- The Treasury Department says it has received $1.9 billion from Chrysler to settle a $4 billion loan.
The department said that while the $1.9 billion repayment is less than the original loan, the amount is still more than Treasury had expected to recover.
The original loan was made on Jan. 2009, by the Bush administration when the government was scrambling to provide emergency support to both Chrysler and General Motors and their auto financing arms.
The Treasury says as a result of the repayment, Chrysler has no more obligations to the $700 billion bailout fund, known as the Troubled Asset Relief Program
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