TD Bank CEO says AML probe still ongoing, addressing weakness

TD Bank CEO Bharat Masrani said on Thursday the bank was working on its anti-money laundering (AML) compliance program, acknowledging that it was not up to the mark, and that the U.S. Justice Department's probe was still ongoing. Masrani said he could not disclose any additional details given the confidential nature of regulatory discussions. TD Bank last year had said it expects fines and "non-monetary" penalties related to investigations by U.S. authorities, including in connection with an investigation by the U.S. Department of Justice.