Big news about TD Bank! They got in trouble for not stopping bad guys from using their bank to launder money (that's hiding dirty money). This is a serious problem, and it cost them a lot.
- TD Bank had to pay a HUGE fine – over $3 billion!
- They hired a special company, Guidepost Solutions, to watch them and make sure they don't do it again.
- This company will check how TD handles money to prevent future problems.
- The bank is making changes, like getting new leaders.
| Problem | Amount |
|---|---|
| Fine paid | $3 billion+ |
| Money for fixing the problem | $500 million |
| Money laundered | >$650 million (from drugs) |
This is a big deal because it shows how important it is for banks to be careful about who they let use their services. It is important for banks to be responsible.
