TD bank shares are trading lower following a report suggesting the Justice Department's investigation into the company's internal controls is focused on ties to a money laundering and drug trafficking case.
Portfolio Pulse from Benzinga Newsdesk
TD Bank's stock is trading lower due to a report about the Justice Department investigating its internal controls related to a money laundering and drug trafficking case.

May 03, 2024 | 6:12 pm
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TD Bank's shares are down following news of the Justice Department's investigation into its internal controls concerning a money laundering and drug trafficking case.
The report of the Justice Department's investigation into TD Bank's internal controls, especially concerning such serious allegations as money laundering and drug trafficking, is likely to negatively impact investor sentiment and the bank's stock price in the short term. The direct involvement in a high-profile investigation can lead to regulatory fines, reputational damage, and potential loss of business, all of which contribute to the negative outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100