TD Money Laundering Fines Could Weigh on Bank’s Stock Long-Term, Analysts Warn

TD Money Laundering Fines Could Weigh on Bank’s Stock Long-Term, Analysts Warn
A person walks past a TD Bank sign in the financial district in Toronto on Sept. 20, 2022. The Canadian Press/Alex Lupul
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Money laundering penalties levied against Toronto-Dominion Bank this week by U.S. regulators could be a drag on the bank’s stock price long-term, analysts warn.

On Thursday, TD agreed to pay fines totalling about US$3.09 billion after pleading guilty to multiple charges related to failings in the bank’s anti-money laundering program.