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Exclusive by Stefanie Marotta and me TD Bank faces stiff penalty from FinTRAC for faulty controls to prevent money laundering /via The Globe and Mail theglobeandmail.com/business/artic…

SCOOP from me and Rita Trichur: TD Bank is set to get a significant monetary penalty from Canada’s financial-crimes watchdog after a review found the lender had faulty anti-money-laundering controls, according to sources. theglobeandmail.com/business/artic… $TD #FINTRAC #AML

I was on The Globe and Mail's daily podcast The Decibel to discuss the scoop that Rita Trichur and I reported on TD Bank's anti-money laundering practices. FINTRAC is preparing to impose a monetary penalty on TD after a review found faulty AML controls: theglobeandmail.com/podcasts/the-d… $TD

SCOOP from me, Stefanie Marotta & James Bradshaw: Globalive founder Anthony Lacavera leading bid to buy embattled Wealth One Bank theglobeandmail.com/business/artic…

Bank of Nova Scotia head of global banking and markets Jake Lawrence is leaving the lender after more than two decades to join Power Corp. of Canada. theglobeandmail.com/business/artic… #scotiabank $bns

Scotiabank is launching the first majority Indigenous-owned investment dealer in Canada through an agreement with two Indigenous development corporations and one First Nation. Latest in the The Globe and Mail: theglobeandmail.com/business/artic… $BNS #banking #Scotia

Scotiabank and Bank of Montreal expect loan-loss reserves to climb amid tougher economic conditions, with relief on the horizon if central banks cut interest rates later this year. My latest on this week's bank earnings: theglobeandmail.com/business/artic… $BNS $BMO #BMO The Globe and Mail

TD Bank CEO Bharat Masrani said the bank has identified the weaknesses in its anti-money laundering procedures, and that the lender is investing heavily in improving those processes. Today's bank earnings coverage in the The Globe and Mail: theglobeandmail.com/business/artic… $TD

RBC plans cost cutting to turn around struggling City National Bank. Via my pal Stefanie Marotta theglobeandmail.com/business/artic… #cdnecon

Royal Bank of Canada is rejigging its strategy in the United States after a year of underperformance at Los Angeles-based City National Bank. theglobeandmail.com/business/artic… $RY #US #banking #RBC

EXCLUSIVE: I spoke with CIBC CEO Victor Dodig about the bank's leadership shakeup, aimed at developing senior executives and bolstering the lender’s growth strategy as he and the board set the stage for eventual succession. Latest for The Globe and Mail: theglobeandmail.com/business/artic… $CM

TD Bank CEO Bharat Masrani took a $1-million cut to his bonus pay in 2023 in response to the terminated takeover of First Horizon Corp. and the U.S. regulatory and law enforcement probe into weaknesses in the bank’s anti-money laundering practices. theglobeandmail.com/business/artic… $TD

I asked the New Zealand government for on-the-record comment at 6:21 pm ET tonight. Got a full response at 6:50 pm ET. What kind of sorcery is this?

I wrote about how Canada's big banks are setting the stage for CEO succession. And the coming shakeups do not include any women as candidates. In today's The Globe and Mail: theglobeandmail.com/business/artic… $RBC $TD $CM #CIBC #TD #RBC $BMO $BNS #Scotia #BMO

RBC has terminated its CFO Nadine Ahn after an investigation revealed that she had a personal relationship with another employee that led to preferential treatment. theglobeandmail.com/business/artic… $RY #banking

Scoop with details on RBC's termination of its CFO. A staff complaint sparked an investigation that concluded the CFO influenced promotions and pay raises of a VP in the treasury department while having an undisclosed personal relationship with him. theglobeandmail.com/business/artic… $RY

#BREAKING: TD Bank is booking a provision of US$450-million stemming from a lengthy probe by U.S. regulatory and law enforcement that derailed the bank’s takeover of Tennessee-based First Horizon last spring. theglobeandmail.com/business/artic… $TD #banking #AML

Canada's banking regulator orders Toronto-Dominion Bank to fix its Regulatory Compliance Management program, the nerve centre for its risk controls /via The Globe and Mail By Stefanie Marotta and me theglobeandmail.com/business/artic…

A TD Bank employee in Florida is accused of accepting bribes to help move millions of dollars to Colombia, adding to a mounting list of court cases underpinning the lender’s anti-money laundering troubles in the US. Via my pal Stefanie Marotta theglobeandmail.com/business/artic… #cdnecon

TD’s anti-money laundering chief has a stark warning for the financial sector: “There will be more” banks targeted by criminals looking to wash dirty money. He’s calling on others to learn from TD’s shortcomings /via The Globe and Mail with Stefanie Marotta theglobeandmail.com/business/artic…