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Toronto Dominion Bank (TD) has agreed to pay a $6.5 million fine after being found guilty of deceiving thousands of credit card customers over several decades. The bank withheld fee rebates totaling $71,723,694. In a separate case, the Consumer Financial Protection Bureau (CFPB) has ordered Navy Federal Credit Union to pay $95 million due to a prolonged illegal junk fee scheme that adversely affected servicemembers and their families. Additionally, TD's new anti-money laundering chief has urged the financial sector to learn from the bank's past failures as it seeks to improve compliance and restore trust.
TD’s new anti-money laundering chief calls on financial sector to learn from bank’s shortcomings https://t.co/bVRoskBAAJ
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