The Globe and Mail reports in its Thursday edition that TD Bank's retail banking growth in the United States will be constrained by an asset cap, adding to TD's financial penalties from U.S. regulators and law enforcement for anti-money-laundering failures, executives were told on a conference call Wednesday evening. The Globe's Tim Kiladze writes that TD has already set aside $4-billion to cover financial penalties from three different regulators and the U.S. Department of Justice, but investors have been bracing for details of non-financial penalties that could limit how quickly the bank can keep growing in the U.S. At 7 p.m. on Wednesday, TD held a call with its executives to say details had been finalized, and they include growth limitations on its U.S. retail banking business. The limitation comes in the form of an asset cap, preventing TD from expanding its balance sheet by adding new loans, for instance, because loans are considered assets. However, the asset cap will apply to the U.S. retail banking division, meaning other units, such as TD Securities, will still be able to expand their own balance sheets and lend to large corporate clients. TD has been hampered by the money-laundering scandal since early 2023.