NEW YORK, Oct. 11, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm Bleichmar Fonti & Auld LLP announces an investigation into The Toronto-Dominion Bank (NYSE: TD) for potential violations of the federal securities laws. If you invested in TD Bank, you are encouraged to obtain additional information by visiting https://www.bfalaw.com/cases-investigations/the-toronto-dominion-bank. Why Did TD Bank's Stock Drop? TD Bank is the 10th largest bank in the United States. On October 10, 2024, TD Bank pleaded gu ...

RADNOR, Pa., Oct. 11, 2024 /PRNewswire/ -- The law firm of Kessler Topaz Meltzer & Check, LLP (www.ktmc.com) is currently investigating potential violations of the federal securities laws on behalf of investors of The Toronto-Dominion Bank (NYSE: TD) ("TD"). On October 10, 2024, TD announced that the company has reached a resolution of previously disclosed investigations related to its U.S. Bank Secrecy Act and Anti-Money Laundering compliance programs. Specifically, TD has agreed to pay fines totaling abou ...

Key Takeaways Shares of TD Bank tumbled Thursday as the Canadian bank pleaded guilty and agreed to pay more than $3 billion in penalties to resolve U.S. charges that it failed to curb money laundering by drug cartels. In addition, TD accepted limits on how much the bank's U.S. retail operations can grow. Last month, TD said that CEO Bharat Masrani would be stepping down in April 2025 and announced a succession plan. Shares of TD Bank (TD) tumbled Thursday as the Canadian bank pleaded guilty and agreed to pa ...

TD Bank Group's Compliance Failures and Penalties - TD Bank Group takes full responsibility for failures in its US Bank Secrecy Act (BSA) and anti-money laundering (AML) compliance programs and commits to remediation efforts [1] - The bank and its US subsidiaries consented to orders and entered into plea agreements with US regulators regarding BSA and AML program investigations [1] - TD Bank's US operations lacked an adequate AML program to prevent criminal activity, leading to systemic deficiencies from January 2014 to October 2023 [2][3] Regulatory Actions and Penalties - TD Bank N A and TD Bank US Holding Co agreed to pay over $1 8 billion in penalties to resolve the Justice Department's investigation into BSA and AML violations [3] - The Office of the Comptroller of the Currency (OCC) imposed a $450 million civil money penalty and a cease and desist order on TD Bank N A and TD Bank USA [4] - The Financial Crimes Enforcement Network (FinCEN) assessed a $1 3 billion penalty against TD Bank N A and TD Bank USA N A for BSA and AML violations [5] Remediation Measures and Oversight - TD Bank appointed new leaders across its US operations and overhauled its US AML team to address compliance failures [2] - The bank agreed to a four-year monitor to oversee remedial measures, including an end-to-end review of its AML program [6] - FinCEN required TD Bank to provide missing suspicious activity reports and conduct additional accountability and data governance reviews [7] Historical Context - TD Bank became the largest US bank in history to plead guilty to Bank Secrecy Act program failures and the first US bank to plead guilty to conspiracy to commit money laundering [4] - The $1 3 billion penalty imposed by FinCEN is the largest ever against a depository institution in the history of the US Treasury and FinCEN [5]

TD Bank became the largest bank in US history to plead guilty to violating a federal law aimed at preventing money laundering, and agreed to pay $3 billion in penalties to resolve the charges, government authorities said on Thursday. TD's plea deal includes imposition of an asset cap and other limitations to its business, authorities said. The bank has pleaded guilty to conspiring to launder money and conspiring to fail to file accurate reports or maintain a compliant anti-money laundering program, the Just ...

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 ...

Settlement Details - TD Bank is expected to pay $3 billion in fines to the Department of Justice and financial crimes regulators to settle a federal probe related to alleged failure to monitor money laundering by drug cartels [1] - The settlement includes growth restrictions on TD Bank, similar to those imposed on Wells Fargo in 2018 [2] Market Reaction - TD Bank shares were down more than 3% midday Thursday following the news [2] Company Background - TD Bank's U S unit is the 10th-largest American bank by assets [1]

The Wall Street Journal reports that TD is expected to plead guilty to criminal charges in an anti-moneylaundering case. Shares of Toronto-Dominion Bank (TD -4.55%) fell by as much as 7% Thursday morning after a bombshell report from The Wall Street Journal said that U.S. regulators were preparing to fine the large Canadian lender about $3 billion and place an asset cap on its U.S. operations in a deal to settle charges that it had failed to properly follow anti-money-laundering laws. As of 11 a.m. ET, shar ...

Group 1 - TD Bank is expected to pay around $3 billion in penalties and accept limits on its U.S. growth due to failure in curbing money laundering activities linked to drug cartels [1][2] - The Office of the Comptroller of the Currency is anticipated to impose fines and restrict the growth of TD Bank's U.S. retail operations [2] - TD's U.S. unit is reportedly planning to plead guilty to criminal charges related to a U.S. Department of Justice investigation into money laundering allegations associated with a Chinese crime operation [3] Group 2 - In August, TD Bank's CEO Bharat Masrani indicated that the bank was collaborating with U.S. regulators and law enforcement to address the issues, while the bank set aside billions in anticipation of the fines [4] - TD Bank reported an unexpected third-quarter loss in August, attributed to the provisions made for the anticipated penalties [4] - CEO Bharat Masrani announced his resignation effective April 2025, along with a succession plan [5]

Investing for income isn't an approach that's for everyone. But when it's done the right way, it can be a savvy investing strategy. Hi, my name is Kody. Aside from my four to five weekly articles here on Seeking Alpha, I am also a contributor to Sure Dividend, Dividend Kings, and iREIT on Alpha. I have been investing since September 2017 and interested in dividend investing since about 2009.Since July 2018, I have ran Kody's Dividends. This is a blog that is documenting my journey towards financial independ ...