Toronto Dominion Bank (TSE:TD) has released an update.
Toronto Dominion Bank (TD) has announced an initial $450 million provision for potential penalties concerning its U.S. Bank Secrecy Act/anti-money laundering (BSA/AML) program inadequacies. While TD Bank is in ongoing talks with U.S. regulators and the Department of Justice, the final amounts for monetary and non-monetary penalties remain undetermined. Strengthening efforts for the AML program are ongoing, and the bank assures its strength in capital and liquidity to support these initiatives and continue customer service.
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