
Don’t Bank on TD Recapturing Its Premium Multiple Anytime Soon
In October, U.S. regulators acted against TD Bank after uncovering that Chinese drug traffickers had bribed employees to launder at least US$653 million. Until TD addresses its anti-money laundering deficiencies to the regulators’ satisfaction, the bank is prohibited from growing its U.S. retail assets beyond US$434 billion, approximately their current level. TD is now the […]