Toronto Dominion Bank’s U.S. Unit Admits to AML Failures

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

Toronto Dominion Bank’s U.S. subsidiary has entered a plea agreement with the U.S. Department of Justice, admitting to charges of failing to maintain an adequate anti-money laundering program and other violations. The bank has agreed to cooperate fully with authorities and has committed to ongoing compliance measures over the next five years. This development may impact investor confidence and the bank’s reputation in the financial markets.

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