By AML Intelligence Correspondents CANADA’s second largest lender now faces a parliamentary inquiry into its AML failings, it’s been revealed. The Canadian House of Commons finance committee announced it will hold a meeting on Friday to discuss recent allegations related to drug traffickers laundering money at TD Bank. It comes as the U.S. Department of…
AML, Banking, Canada, Compliance, News, US
LATEST: Canada’s parliament inquires into AML failings at TD Bank as US probes how China fentanyl gangs washed dirty money at lender
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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.