- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Aaron Nicodemus2024-05-01T17:34:00
TD Bank said it set aside $450 million to settle regulatory and law enforcement investigations into its anti-money laundering (AML) and Bank Secrecy Act (BSA) programs.
The bank, which previously disclosed the existence of the investigations by the Department of Justice (DOJ) and other U.S. regulators, said in a press release Tuesday it is negotiating the size of the penalty.
“The bank’s regulatory and law enforcement discussions with three U.S. regulators … and the Department of Justice are ongoing. The bank anticipates additional monetary penalties,” it said. “This provision does not reflect the final aggregate amount of potential monetary penalties or any nonmonetary penalties, which are unknown and not reliably estimable at this time.”
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2024-09-13T13:09:00Z By Adrianne Appel
TD Bank has been ordered to pay $27.7 million and implement compliance measures, for providing inaccurate, negative credit information to credit agencies about tens of thousands of its customers and taking too long to fix the errors, the Consumer Financial Protection Bureau said.
2024-08-26T18:17:00Z By Aaron Nicodemus
TD Bank has set aside $2.6 billion to settle allegations made by U.S. regulators that deficiencies in its anti-money laundering program allowed fentanyl traffickers to launder money on its platform.
2024-06-10T09:43:00Z By Kyle Brasseur
The Financial Crimes Enforcement Network published its latest collection of Bank Secrecy Act data, including number and type of suspicious activity reports.
2025-05-22T14:37:00Z By Aaron Nicodemus
The Federal Trade Commission has ordered web hosting company GoDaddy to implement a “robust” information security program following at least three data breaches that the agency said were aided by lax cybersecurity measures.
2025-05-20T12:30:00Z By Oscar Gonzalez
The U.S. Federal Trade Commission (FTC) took action against a pair of student loan debt relief companies for allegedly deceiving borrowers. The move came despite the Trump administration’s broader efforts to roll back enforcement actions against businesses since taking office.
2025-05-16T19:24:00Z By Oscar Gonzalez
After dismissing its lawsuit against the crypto exchange Coinbase in March, a second investigation into the exchange by the Securities and Exchange Commission has surfaced, according to a report from the New York Times. This comes as a bit of a surprise after the Trump administration has been scaling down ...
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