TD Bank pleads guilty in money laundering case, will pay $3 billion in penalties
- TD Bank, a major Canadian lender, pleaded guilty to criminal charges in the US and agreed to pay over $3 billion in penalties after allowing illicit transfers by drug cartels.
- As part of the settlement, TD Bank faces restrictions on US growth, relocation of its anti-money laundering compliance office to the US, and penalties distributed to multiple agencies.
- The bank is the largest in US history to plead guilty to such charges, and it will undergo four years of monitoring by FinCEN.
Insights by Ground AI
Does this summary seem wrong?
Coverage Details
Total News Sources0
Leaning Left25Leaning Right16Center39Last UpdatedBias Distribution49% Center
