TD Bank leadership called its response to anti-money laundering program lapses its “top priority” as federal regulators named their choice of a compliance monitor to oversee a top-to-bottom rebuild of its AML program.
On Feb. 27, TD Bank announced in its first quarter financial results that the Department of Justice (DOJ) and the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) had chosen Guidepost Solutions as the independent compliance monitor tasked with overseeing the bank’s remediation of longstanding AML compliance failures.
