Canadian bank’s U.S. unit is expected to plead guilty Thursday to charges that it failed to build proper anti-money-laundering systems
TD Bank TD -4.14%decrease; red down pointing triangle is expected to pay about $3 billion in penalties and accept limits on its growth in the U.S. as part of a settlement with regulators and prosecutors over charges it failed to properly monitor money laundering by drug cartels.
As part of the agreement, the bank’s primary U.S. regulator, the Office of the Comptroller of the Currency, is expected to impose an asset cap barring the bank’s retail business from growing above a certain level in the U.S., according to people familiar with the matter.
TD reaches $70M class-action settlement on broker commissions, law firm says
Siskinds LLP has also filed class actions against the other five big Canadian banks
https://financialpost.com/fp-finance/banking/td-class-action-settlement
TD is toast then. Its not the fine, its the limit on US growth that will kill them for YEARS