Today, people don’t have to go to the actual bank as much as they used to. It can’t be cheap to keep paying all the salaries, real estate taxes, etc. It doesn’t come as a shock that TD Bank is closing several locations. These closings, however, may be due to what happened last year.
In October, 2024, TD Bank pleaded guilty to the U. S. Department of Justice Department’s Criminal Division for conspiring to launder money. Here’s a bit of the background from justice.gov;
TD Bank’s failures enabled three money laundering networks, one of which was assisted by five TD Bank employees, to collectively transfer more than $670 million through TD Bank accounts between 2019 and 2023. As part of its plea agreement, TD Bank will pay a combined $1.8 billion in penalties…