Reported about 21 hours ago
TD Bank Group plans to invest $1 billion in two years to enhance its anti-money-laundering controls following significant regulatory penalties. This compliance overhaul is prioritized amid a restructuring plan and U.S. business scaling back due to economic uncertainty from tariff policies. Despite previous compliance issues resulting in a $3.1 billion penalty, TD is confident in its direction with increased investments expected to focus on remediation, validation, and technological integration like machine learning, as it aims to optimize operations and position itself better for future growth.
Source: YAHOO