TD Bank’s handling of suspicious customer transactions was behind regulators’ refusal to bless the lender’s $13.4 billion bid to buy First Horizon, people familiar with the matter said
Toronto-Dominion Bank said it works diligently to prevent criminals from using the bank for illegal activity.handling of suspicious customer transactions was behind regulators’ refusal to bless the Canadian lender’s $13.
4 billion bid to buyThursday, citing uncertainty over whether and when they could receive regulatory approvals, without being more specific. The reluctance by the Office of the Comptroller of the Currency and the Federal Reserve to give TD a clean bill of health on its anti-money-laundering practices proved to be the biggest obstacle, the people said.
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