By Nivedita Balu and Jaiveer Shekhawat CANADA’s TD Bank today (Thursday) said it is working with U.S. regulators to bring an AML probe to a resolution so investors can have more clarity. The lender also revealed that a “comprehensive overhaul” of its U.S. AML program is well underway. It came as TD Bank today (Thursday)…
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NEWS: TD Bank’s ‘comprehensive overhaul’ of its AML processes as US probes lender’s role washing China fentanyl dirty money
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STRICTURES: National Bank analyst Gabriel Dechaine wrote in a note on TD's woes that regulators could also contemplate the type of asset cap. U.S. regulators in 2018 imposed a cap on Wells Fargo that would restrict loan growth. "If growth here is restricted, TD could deliver sub-par earnings growth relative to peers over the next several years," Dechaine wrote.