TD Bank Appoints Guidepost Solutions as Monitor After $3 Billion Penalty from DoJ and FinCEN in 2024
TD Bank has appointed Guidepost Solutions as a third-party monitor for its anti-money laundering program following a $3 billion penalty imposed by U.S. regulators in 2024. This decision is part of a compliance mandate from the Department of Justice (DoJ) and the Financial Crimes Enforcement Network (FinCEN). The appointment was confirmed by the bank and reported by various sources, including the Wall Street Journal and Globe and Mail. The move comes amid broader regulatory scrutiny of financial institutions and their compliance with anti-money laundering laws.
Sources
The Washington Post
Column by Michelle Singletary: The once-fierce watchdog is dropping consumer cases against companies and processing far fewer complaints. https://t.co/7zGBak2B66
The Globe and Mail TD Bank appoints compliance monitor after US$3-billion penalty for money laundering https://t.co/qve3bpmqCR
Risk & Compliance Journal In today's Morning Risk Report: A consumer watchdog moves to drop Capital One lawsuit, and a monitor is appointed in TD Bank's $3 billion anti-money-laundering settlement https://t.co/Wrw7CAYrJB