TD Bank Nears Settlement on AML Issues, Allocates Billions

Toronto Dominion Bank (TSE:TD) has released an update.

Toronto Dominion Bank is nearing a resolution on its U.S. anti-money laundering (AML) compliance issues, with expectations to finalize global settlements by year’s end and has set aside US$2.6 billion for potential fines. The bank sold a portion of its Charles Schwab shares to partially offset the provision cost, maintaining a strong balance sheet with a post-provision Common Equity Tier 1 ratio of 12.8%.

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