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TD Bank pleads guilty to money laundering charges and agrees to $3 billion settlement

theglobeandmail.com — October 12, 2024 at 01:01 AM UTC

TD Bank has agreed to plead guilty to money laundering charges and will pay a $3 billion settlement, as announced by U.S. Attorney General Merrick Garland on October 10. This marks a significant shift from the bank's previous attempts to downplay its issues. Despite acknowledging "serious failures" in its U.S. anti-money-laundering program, TD's leadership has not provided clear answers about the extent of the problems. Executives continue to use vague language, failing to rebuild trust with investors. The U.S. Department of Justice's findings highlight systemic issues within TD, contrasting with the bank's earlier claims of isolated incidents. U.S. regulators are now overseeing parts of TD's compliance program, raising concerns about the effectiveness of Canadian regulatory bodies.

With a significance score of 2.9, this news ranks in the top 24% of today's 18434 analyzed articles.

Get summaries of news with significance over 5.5 (usually ~10 stories per week). Read by 9000 minimalists.

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Timeline:

[2.8]

TD Bank cuts U.S. retail assets by 10% to meet new regulatory cap (theglobeandmail.com)

157d 7h

[3.2]

TD Bank faces $3.09 billion fine and asset cap in US money laundering case (ft.com)

157d 11h

[2.4]

TD Bank shares fall 9% over two days after money-laundering penalties (livemint.com)

157d 12h

[2.5]

TD Bank faces long-term stock pressure after $3 billion money laundering fines (regina.ctvnews.ca)

157d 14h

[2.0]

BFA Law investigates Toronto-Dominion Bank for securities fraud after money laundering plea (benzinga.com)

157d 14h

[2.4]

TD Bank faces $3.09 billion in fines and asset cap after money laundering charges (news.yahoo.com)

157d 15h

[4.7]

TD Bank agrees to $3 billion settlement over money laundering practices (nj1015.com)

158d 5h

[5.6]

TD Bank faces backlash for failing to prevent money laundering in U.S. operations (theglobeandmail.com)

158d 7h

[5.2]

TD Bank agrees to pay $3 billion to settle US money laundering charges (ft.com)

158d 8h

[5.2]

TD Bank to pay $3 billion to settle money laundering charges and halt U.S. expansion (theglobeandmail.com)

158d 8h

[4.7]

TD Bank pleads guilty to money laundering charges and agrees to pay $3 billion fine (benzinga.com)

158d 9h

[5.0]

TD Bank agrees to $3 billion settlement over money-laundering case with U.S. authorities (sandiegouniontribune.com)

158d 10h

[4.7]

TD Bank agrees to $3 billion settlement over money-laundering case with U.S. authorities (mcall.com)

158d 10h

[5.0]

TD Bank agrees to $3 billion settlement over money-laundering case with U.S. authorities (sun-sentinel.com)

158d 10h

[4.5]

TD Bank agrees to $3 billion fine for money laundering violations (gazette.com)

158d 10h

[4.7]

TD Bank agrees to $3 billion settlement over money laundering practices (triblive.com)

158d 10h

[4.7]

TD Bank agrees to $3 billion settlement over money-laundering case with U.S. authorities (orlandosentinel.com)

158d 10h

[4.3]

Toronto-Dominion Bank faces investigation over money laundering violations (seekingalpha.com)

158d 10h

[4.7]

TD Bank agrees to $3 billion settlement over money-laundering case with U.S. authorities (twincities.com)

158d 10h

[4.8]

TD Bank agrees to $3 billion settlement over drug cartel money laundering failures (cnn.com)

158d 12h

[4.7]

TD Bank pleads guilty to money laundering charges and agrees to $3 billion penalty (timesofindia.indiatimes.com)

158d 12h

[4.9]

TD Bank pleads guilty to money laundering charges and faces US$3.09 billion in fines (news.yahoo.com)

158d 13h

[4.7]

TD Bank pleads guilty to money laundering, agrees to $3 billion settlement (cnbc.com)

158d 13h

[4.9]

TD Bank agrees to $3 billion settlement over money laundering linked to drug cartels (edition.cnn.com)

158d 14h

[4.7]

TD Bank to plead guilty to US money laundering charges and pay $3 billion in penalties (sg.news.yahoo.com)

158d 16h