TD Bank Pays $3.1B to Settle Money Laundering Case

Toronto-Dominion Bank has agreed to a $3.1 billion settlement with U.S. regulators over significant shortcomings in its anti-money laundering compliance program. This landmark agreement marks the bank’s largest legal challenge in over a century, raising concerns about banking practices and regulatory scrutiny of financial institutions. The incident is expected to influence future regulations for both cryptocurrency markets and traditional banks.