The Globe and Mail reports in its Saturday edition that maybe those big green chairs were just too cozy. The Globe's Tim Shufelt writes that for nearly 25 years, they have been a staple of TD Bank's marketing, which once included the tagline: "Banking can be this comfortable." Then a bunch of U.S. drug dealers sat in them, and the bank never thought to say, "I'm sorry, those chairs are for our non-money-laundering clients only." In chasing an ambitious U.S. expansion, TD lost its way, forgetting the basic principles of transaction monitoring, risk management and not letting crime syndicates launder hundreds of millions in cash through your branches. In October, the bank pleaded guilty to conspiracy to commit money laundering -- the first bank in U.S. history to do so. TD was slapped with fines totalling $3.1-billion (U.S.), as well as a cap on the bank's U.S. retail assets -- a worst-case scenario that deprives TD of its growth engine indefinitely. Perhaps a fresh ad campaign is just the thing to kick-start the rehabilitation of TD's image. Retire the roomy easy chair. Its successor should be small and unforgiving, a sturdy pine with a stiff back. And in a bold, no-nonsense font: "Banking can be this law-abiding."
© 2025 Canjex Publishing Ltd. All rights reserved.