Finance
TD Hopes to Reach ‘Global Resolution’ of Drug-Money Probes
- CEO addressed 1,800 top staffers about laundering allegations
- Masrani said bank worked with DOJ to help prosecute criminals
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Toronto-Dominion Bank is hoping it can soon work out a “global resolution” to a series of regulatory and law-enforcement probes it faces in the US over allegations that the lender was used for the laundering of drug money.
Chief Executive Officer Bharat Masrani addressed employees of the bank in a series of communications on Monday and in a video town-hall meeting with about 1,800 top leaders, during which he warned that “this is going to get tougher before it gets better.”