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TD Falls on Reports Tellers Were Pressured to Hit Sales Targets

  • ‘Fallout could be similar’ as at Wells Fargo, analyst says
  • Lender refutes report, saying ‘we have procedures in place’
The Toronto-Dominion Bank building stands in the financial district of Toronto.

The Toronto-Dominion Bank building stands in the financial district of Toronto.

Photographer: Brent Lewin/Bloomberg
Updated on

Toronto-Dominion Bank fell the most in more than eight years on Friday as concerns mounted over reports that bank employees may have improperly pressured customers to meet sales goals, a claim the lender disputes.

“Concerns are arising with investors that the fallout could be similar to what happened to Wells Fargo,” Barclays Plc analyst John Aiken wrote Friday in a note to clients, referring to the bogus-account scandal that shook the San Francisco-based lender last year.