TD Bank is facing fines totalling about $3.09 billion US from U.S. regulators in connection with failures of its anti-money-laundering safeguards.
The bank also received a cease-and-desist order and non-financial sanctions from the Office of the Comptroller of the Currency that put limits on its growth in the U.S. after it was found that TD had “significant, systemic breakdowns in its transaction monitoring program.”
More to come.