TD Bank to pay $2.6 billion for U.S. compliance violations

TD Bank recorded a $2.6 billion provision in the third quarter to cover the estimated cost of penalties for money laundering compliance violations in the U.S. During the Canadian bank’s third-quarter earnings call, CEO Bharat Masrani provided an update on TD’s remediation program resulting from the U.S. money laundering investigation. He said the bank is (…)