If you are looking for high yields in October, check out these three out-of-favor financial stocks. You may like what you see. For dividend investors, there's usually nothing more tempting than a big, fat dividend yield. But you have to make sure that the business behind that yield is strong enough to keep paying the dividend or you could end up owning a yield trap. Right now Wall Street is sour on W.P. Carey (WPC -1.23%), T. Rowe Price (TROW 1.87%), and Toronto-Dominion Bank (TD 0.69%). But that's put thes ...

The Toronto-Dominion Bank's (TD) U.S. broker-dealer unit, TD Securities USA, has agreed to pay more than $20 million in a settlement with U.S. authorities over allegations of manipulations of the U.S. Treasuries market. Allegations Against TD Bank TD Securities USA admitted to engaging in the spoofing in the U.S. Treasury cash securities market as a part of the deal with the U.S. Justice Department. This puts to an end a long-running probe into manipulation, per the court filing. TD Securities further settl ...

TD Bank is reportedly settling a case involving illegal "spoof" orders by a former trader. The Canadian bank will pay more than $20 million as part of a deal with American prosecutors, Bloomberg News reported Monday (Sept. 30), citing court filings. That deal involves TD entering into a three-year deferred prosecution agreement to end criminal and civil investigations into "hundreds of fraudulent spoof orders amounting to tens of billions of dollars of false supply and demand" for U.S. Treasurys. According ...

TD Bank is reportedly close to a possible plea related to its anti-money laundering measures. The Canadian bank is in discussions with U.S. prosecutors over the agreement, stemming from criminal charges that its American arm failed to prevent money laundering, The Wall Street Journal (WSJ) reported Friday (Sept. 27). The plea could come in the next two weeks, the report said, citing sources with knowledge of the matter. Those sources say authorities accuse the bank of recklessness in failing to establish pr ...

TD Bank got itself into a little bit of hot water with regulators. However, it believes the problem will be largely behind it by the end of 2024. Toronto-Dominion Bank (TD 0.08%), one of the largest banks in North America, has stumbled. There is no way around that fact. But the reaction on Wall Street has left the dividend yield at 4.7%, well above the 2.5% yield of the average bank, using the SPDR S&P Bank ETF as an industry proxy. Is this Canadian banking giant a buy, sell, or hold today? Buy Toronto-Domi ...

About this content About Emily Jarvie Emily began her career as a political journalist for Australian Community Media in Hobart, Tasmania. After she relocated to Toronto, Canada, she reported on business, legal, and scientific developments in the emerging psychedelics sector before joining Proactive in 2022. She brings a strong journalism background with her work featured in newspapers, magazines, and digital publications across Australia, Europe, and North America, including The Examiner, The Advocate, The ...

Key Takeaways TD Bank Group shares rose Thursday amid news that CEO Bharat Masrani is planning to retire next spring after a decade in the top role at the Canadian firm. Raymond Chun, who currently leads the bank's Canadian personal banking operations, will become COO later this year and take over for Masrani when he retires in April 2025. Masrani celebrated the decision to elevate Chun, and said the investigation into suspected failures of TD's anti-money laundering practices was his own responsibility. Sh ...

TD Bank Group President and CEO Bharat Masrani will retire April 10, and will be succeeded by Raymond Chun, who is currently group head, Candian personal banking. Masrani has been CEO for more than a decade and has been with the bank for 38 years, TD Bank said in a Thursday (Sept. 19) press release. Following his retirement as CEO, Masrani will serve as an advisor to the bank until Oct. 31, 2025, according to the release. "Bharat helped to build TD over almost four decades, and as CEO led the Bank through a ...

The Toronto-Dominion Bank (TD) has agreed to pay a $28 million penalty in response to the Consumer Financial Protection Bureau (CFPB) order concerning credit reporting issues. The bank has been accused of mishandling customers' credit information and failing to make necessary amendments to its practices. Allegations Against TD TD signed a consent agreement with the CFPB on Wednesday admitting that it provided false information to consumer reporting companies, at times intentionally, and acknowledging its sh ...

The Consumer Financial Protection Bureau (CFPB) ordered TD Bank to pay about $28 million in redress and penalties, saying the bank provided consumer reporting agencies with information about its customers that was inaccurate and negative. A CFPB investigation determined that TD Bank repeatedly gave these agencies inaccurate information, gave them information it knew or suspected was fraudulent, and failed to conduct proper investigations when customers or consumer reporting agencies submitted disputes, the ...