U.S. Regulators May Impose an Asset Cap on Toronto-Dominion Bank -- and the Stock Is Tumbling
TDDominion Bank(TD) The Motley Fool·2024-10-10 23:09

The Wall Street Journal reports that TD is expected to plead guilty to criminal charges in an anti-moneylaundering case. Shares of Toronto-Dominion Bank (TD -4.55%) fell by as much as 7% Thursday morning after a bombshell report from The Wall Street Journal said that U.S. regulators were preparing to fine the large Canadian lender about $3 billion and place an asset cap on its U.S. operations in a deal to settle charges that it had failed to properly follow anti-money-laundering laws. As of 11 a.m. ET, shar ...