TD Bank pleads guilty to money laundering violations, agrees to $3 billion penalty

TD Bank, the largest bank to date to admit to US Bank Secrecy Act violations, pleads guilty to money laundering-related charges and agrees to $3 billion in penalties. The Justice Department cites pervasive compliance failures over a decade. An asset cap limits TD's US operations, and CEO Bharat Masrani plans to retire, taking responsibility for the issues.

from Business News: Latest News on Business, Stock Markets, Financial News, India Business & World Business News https://ift.tt/ZK9cEWh
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