Fitch downgrades Toronto-Dominion Bank's outlook to 'negative' due to anti-money laundering probe.
Fitch has revised the outlook on Toronto-Dominion Bank's (TD) credit ratings to 'negative' from 'stable', in response to an ongoing anti-money laundering probe that may impact earnings and affect its ability to make acquisitions. Fitch states that the bank has set aside $450m for potential fines in relation to the investigation and anticipates further financial penalties.
May 28, 2024
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