Analysts Say Fines Could Rise as TD Bank Faces Additional Allegations
Dominion Bank(TD) PYMNTS.com·2024-06-06 06:36
Toronto-Dominion Bank (TD Bank) reportedly could be facing fines of up to $4 billion in relation to money-laundering probes in the United States.This estimate by analysts at Jefferies Financial Group is double the previous estimates, highlighting the severity of the potential impact on Canada’s second-largest lender, Bloomberg reported Wednesday (June 5).The allegations involve instances in which TD Bank branch employees allegedly facilitated money laundering and bypassed anti-money laundering (AML) defense ...