CEO Raymond Chun plans to achieve the results by cutting expenses between $2 billion and $2.5 billion, and generating more revenue per client by deepening relationships. (The Logic)

Talking point: Chun unveiled a multi-year strategy for growing the bank’s business on Monday, despite operating under an asset cap in the U.S. that regulators imposed last year as part of a settlement for anti-money laundering failures. In a presentation, TD said remediating its anti-money laundering program is its top priority, saying it expects the costs of that effort to be stable through 2026. The bank also said it expects AI will help it increase revenue and decrease costs by $500 million each per year, for a total annual boost of $1 billion. TD surprised analysts by posting a profit in the third quarter despite taking a charge related to its anti-money laundering reforms.