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NEWS: TD Bank beats estimates on Canada strength amid US anti-money laundering probe

Premium May 23, 2024

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.

WEEKEND READ: IRS-CI Chief says suspicious transaction monitoring needed to fight fentanyl trafficking

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NEWS: FCA ramps up fincrime efforts, filing record number of criminal charges

EXCLUSIVE WEBINAR: Industry leaders give crucial advice on how to spot deepfake videos

By Nivedita Balu and Jaiveer Shekhawat

TD Bank TD.TO on Thursday reported better than expected quarterly earnings helped by strength in Canada and its wealth management unit, even as its U.S segment struggled amid probes related to its anti-money laundering program.

TD, Canada’s second largest bank, said net income at home rose 7%. This was helped by loan growth and newcomers opening accounts as it increased focus on the segment through a partnership with India’s HDFC bank to attract customers, such as students moving to the country.

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WEEKEND READ: IRS-CI Chief says suspicious transaction monitoring needed to fight fentanyl trafficking

 Premium

NEWS: FCA ramps up fincrime efforts, filing record number of criminal charges

EXCLUSIVE WEBINAR: Industry leaders give crucial advice on how to spot deepfake videos

Regulatory Watch News

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