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Toronto-Dominion Bank
Symbol TD
Shares Issued 1,748,307,012
Close 2024-09-11 C$ 83.76
Market Cap C$ 146,438,195,325
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Globe says TD Bank pressured by another U.S. regulator

2024-09-12 08:03 ET - In the News

The Globe and Mail reports in its Thursday edition that TD Bank's U.S. regulatory woes continue to pile up, with the lender paying $28-million (U.S.) in penalties for sharing inaccurate information about its clients. The Globe's Tim Kiladze writes that the penalty is TD's second levied by the Consumer Financial Protection Bureau (CFPB). On Wednesday, the agency's director called on regulators to "focus major attention" on the bank to ensure it makes reforms. TD is finalizing financial penalties and remediation efforts with three different watchdogs and the Department of Justice for anti-money-laundering lapses. "Rather than treating its customers fairly and following the law, TD Bank's management clearly cared more about growth and expanding its empire through mergers," CFPB director Rohit Chopra said in a statement Wednesday. "Regulators will need to focus major attention on TD Bank to change its course." The CFPB said TD is paying the fine for giving inaccurate information about its clients to consumer reporting agencies over several years. Consumer reports are used by third parties such as financial institutions, landlords and employers when determining whether to offer someone a credit card, housing or even a job.

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