Toronto-Dominion Bank will pay about $3 billion in penalties and face restrictions on its U.S. growth in a settlement with regulators over its failure to catch money laundering, the Wall Street Journal reported.
Regulators are likely to announce a settlement with the Canadian bank on Thursday, though that timing may change, a person familiar with the matter told Bloomberg, asking not to be named discussing confidential information. The bank said it plans to hold a conference call and will confirm the time later.
The Office of the Comptroller of the Currency is expected to impose