Canada’s second largest bank may have just seen its tiny money laundering problem turn into a big one. TD, also the sixth largest bank in North America, recently disclosed they’ll be setting aside hundreds of millions in funds for any potential fines related to an anti-money laundering (AML) compliance investigation in the U.S.. After a […]
If you want to make this stick, don’t let them deduct it as a loss on their taxes and really don’t let them pass it on as an increase in fees.
The latter is especially important, because if they raise it, the others will to, and they’ll be, ah, making bank the next year.
You know what else would be nice? Criminally charging the people responsible.