TD Bank Stock Tumbles as Lender Reportedly Faces $3B in Penalties, Growth Cap

KEY TAKEAWAYS Shares of TD Bank are falling in premarket trading on a report that the Canadian bank is set to pay around $3 billion in penalties and accept limits on its U.S. growth. According to The Wall Street Journal, the Office of the Comptroller of the Currency is expected to impose the fines and place a limit on how much the bank's U.S. retail operations can grow following charges it failed to over charges it failed to curb money laundering by drug cartels. Last month, TD said that CEO Bharat Masrani ...