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 ...

Core Insights - The article highlights the best mortgage refinance lenders in the U.S. as of October 2025, with a focus on their offerings and customer satisfaction ratings [1][2][10]. Group 1: Best Refinance Lenders - Truist Bank is recognized as the best overall refinance lender due to its wide selection of loans and low median debt-to-income (DTI) ratio requirement of 30, compared to other finalists whose DTI ratios ranged from 36 to 45 [2][8]. - TD Bank is noted as the runner-up, praised for its excellent refinancing options but limited by its regional service area, operating in only 15 states and Washington, D.C. [5][9]. - Bank of America specializes in conventional loan refinancing and is highly rated for customer satisfaction, although it does not cater to FHA or VA loans [6][15]. Group 2: Specialized Lenders - Pennymac is highlighted as the best for FHA and VA refinancing, known for its low interest rates and specialization in government-backed loans [10][16]. - Rate, formerly Guaranteed Rate, stands out for offering higher-value refinance loans, with a median loan amount of $335,000, significantly higher than other finalists [12][17]. - Fifth Third Bank is recognized for having the lowest loan costs among its peers, serving a limited number of states [21][27]. Group 3: Customer Satisfaction and Resources - Customer satisfaction ratings from J.D. Power indicate that Truist and Pennymac have below-average scores, while Bank of America is highly rated [8][12][15]. - U.S. Bank is noted for its extensive online resources, receiving a five-star rating for educational materials and tools available to customers [18][26]. Group 4: Market Trends - Mortgage refinancing applications have increased by 31% year-over-year, with the national average refinance APR for a 30-year mortgage at 6.64% and 5.91% for 15-year loans [29][44]. - The article emphasizes the importance of comparing offers from multiple lenders to secure the best refinancing deal [45][56].

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 ...

Group 1 - TD Bank is facing ongoing issues with its anti-money laundering (AML) controls, which may lead to a leadership change, specifically a new CEO by 2025 [1][2] - Shareholders and analysts suggest that an outside hire with U.S. banking sector experience is preferred to address the AML troubles [1] - The bank's CEO Bharat Masrani has been in position for 10 years, during which TD expanded significantly in the U.S. [2] Group 2 - Recently, TD Bank reported a $2.6 billion provision related to a potential investigation into its AML program, following a $450 million provision in the previous quarter [3] - U.S. regulators are scrutinizing TD's AML efforts, prompting the bank to undertake a remediation of its program [3] - Earlier this year, TD terminated over a dozen employees and initiated criminal charges and disciplinary actions against some [3] Group 3 - There is increasing scrutiny on AML practices across financial companies, with potential regulatory changes on the horizon [4] - Financial institutions, including banks and FinTechs, face significant consequences if they fail to meet AML standards [4] - Regulators are currently seeking input on the use of advanced technologies to enhance fraud defenses in financial institutions [4]

Shares of Toronto-Dominion Bank (TD) declined 2.2% as the company incurred a loss on a GAAP basis in the third quarter of fiscal 2024 (ended Jul 31). The quarterly loss was primarily due to provisions for the penalties related to investigations concerning its anti-money laundering (AML) practices by the U.S. regulators. Net loss (GAAP basis) was C$181 million ($132.2 million) against net income of $2.88 billion in the prior-year quarter. Huge increases in provisions for credit losses and higher expenses act ...

A red number for an important line item sank the company's shares. No investor likes a surprise net loss, and an unexpected quarterly deficit put Toronto-Dominion Bank's (TD -2.19%) stock in the doghouse on Thursday. The company's share price sagged by more than 2% in late-session trading, a steeper decline than the 0.8% slide of the S&P 500 index at the same time. High provisions sank the bottom line Toronto-Dominion's results for the fiscal third quarter of 2024 came out Thursday morning before market ope ...