TD Bank TD -1.11%decrease; red down pointing triangle said it would set aside $450 million for fines it is likely to face from U.S. regulators because of weaknesses with its anti-money laundering practices.
Canada’s second-largest bank by market capitalization said Tuesday the provision is related to talks with one U.S. regulator. Bank officials are in talks with two other regulators, and TD said the initial provision doesn’t reflect other financial or non-monetary penalties that the lender could face.
Source: WSJ
