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flag TD Bank sells a large stake in Charles Schwab to meet regulatory requirements, worth about $15.4 billion.

flag TD Bank plans to sell its 10.1% stake in Charles Schwab, totaling 184.7 million shares worth about $15.4 billion, to comply with U.S. regulatory restrictions and asset caps. flag Schwab will repurchase $1.5 billion of its shares. flag Proceeds will be used for TD's stock buyback and business investments. flag This move follows TD's efforts to rectify anti-money laundering issues and restructure its balance sheet.

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