TD Bank

The Toronto-based bank announced enterprise-wide and business-specific revenue and expense targets, almost exactly one year after it was hit with more than $3 billion in fines and an asset cap for money-laundering-related blunders.

Lendistry, one of the nation's fastest-growing SBA 7(a) lenders, is getting a $25 million infusion from TD's community development arm.

Taylan Turan, who was previously HSBC Holdings' global CEO of retail banking, will join the Canadian bank later this month as chief operating officer.

The Canadian bank said it will take at least a year to hit an inflection point in U.S. loan growth. It has been shedding assets in an effort to free up space for growth in more promising business lines.

Growth in TD's home market has become even more important for the bank after its U.S. anti-money-laundering settlements imposed a cap on its American retail operations.

Industry veteran Chris Ward has been tapped to lead the Canadian bank's new U.S. small-business banking department. "It's absolutely a growth opportunity," he said.

The Florida man admitted to opening over 100 fake TD Bank accounts in exchange for bribes, leading to $72,000 in fraud losses at the bank.

The co-heads of TD Securities Automated Trading estimate that more than 90% of transactions will eventually be automated.

Upgrading its anti-money-laundering controls is the Canadian bank's top priority following historic failures that led to a $3.1 billion penalty and a U.S. asset cap.

Toronto-Dominion Bank set aside less money than expected for souring loans in the second quarter, despite concerns that U.S. tariffs would hamper economic growth.

Banks such as Texas Capital and Synovus say they're learning from anti-money-laundering failures elsewhere. They emphasize the importance of having enough compliance staffers — and ensuring they have the necessary skills.

Thirty-eight TD Bank locations and 24 Flagstar branches are set to shut down. Both banks are coming out of tumultuous periods.

Leo Salom, who has led Toronto-Dominion's U.S. division since 2022, saw his variable pay decline 35% in 2024.

The Canadian bank's U.S. unit is restructuring its balance sheet and managing the fallout of anti-money-laundering compliance failures, but there were some positive indicators in last quarter's results.

The Canadian bank plans to exit its 10.1% interest in the brokerage firm, allowing it to shore up capital and strategically shrink to adhere to penalties related to its historic compliance failures.

TD has been adjusting its balance sheet to comply with a cap on its U.S. retail banking assets, imposed last year as part of its money-laundering plea.

Toronto-Dominion Bank is moving up the start date for its new chief executive officer, Raymond Chun, by two months and has reduced executives' pay.

After shoring up infrastructure following the scuttled TD Bank acquisition, the Memphis, Tennessee-based institution plans to focus more on mobile banking and new product innovation.

TD Bank Group's money-laundering-related crimes have sparked questions of how banks should be penalized for moving dirty money. CFPB Director Rohit Chopra said the FDIC should do more.

After the Toronto-based bank faced record penalties in the U.S., it made new disclosures about its anti-money-laundering compliance obligations in Canada, where critics say regulators have been too lax.