The bank is in the process of installing monitors that will observe its operations and report to regulators as ordered by the U.S. government after it pleaded guilty to anti-money-laundering failures, The Globe and Mail reported, citing two sources. (The Globe and Mail)
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The bank is in the process of installing monitors that will observe its operations and report to regulators as ordered by the U.S. government after it pleaded guilty to anti-money-laundering failures, The Globe and Mail reported, citing two sources. (The Globe and Mail)
Talking point: Leo Salom, head of TD Bank’s U.S. division, reassured staff in a town hall this month that the bank has the resources and expertise to fix its anti-money-laundering program, according to the Globe. In October, TD agreed to pay US$3 billion to U.S. agencies and operate under an asset cap limiting its growth, as well as penalties related to its role in facilitating drug trafficking and other crimes “by making its services convenient for criminals,” Attorney General Merrick B. Garland said in a statement. TD has announced CEO Bharat Masrani will retire in April and has spent $500 million to overhaul its anti-money laundering program.
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