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NEWS: Embattled TD Bank fined $28m for sharing ‘inaccurate and negative’ information about customers

Premium September 12, 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.

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NEWS: Europol says AI facial recognition technology could help stop ATM scams

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NEWS: Luxembourg’s CSSF regulator says new anti-corruption rules will be ‘focal point’ in money laundering fight

NEWS: None of 25 UK legal and accounting industry bodies ‘fully’ meet AML standards, FCA warns

By Paul O’Donoghue, Senior Correspondent

TD Bank has been fined almost $28 million for sharing “inaccurate, negative” information about its customers with credit reporting agencies.

The U.S. Consumer Financial Protection Bureau (CFPB) said this data mismanagement potentially damaged the credit scores of hundreds of thousands of individuals.

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NEWS: Europol says AI facial recognition technology could help stop ATM scams

 Premium

NEWS: Luxembourg’s CSSF regulator says new anti-corruption rules will be ‘focal point’ in money laundering fight

NEWS: None of 25 UK legal and accounting industry bodies ‘fully’ meet AML standards, FCA warns

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