Toronto Dominion Bank (TSE:TD) has released an update.
Toronto Dominion Bank has set aside US$450 million in anticipation of potential penalties from ongoing discussions with U.S. regulators and the Department of Justice regarding deficiencies in its anti-money laundering practices. While the exact penalties are not yet determined, the bank is working on improving its monitoring systems and remains financially robust to address these challenges. The provision is detailed in the U.S. subsidiaries’ quarterly Call Reports but is separate from the bank’s upcoming consolidated financial results.
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