Regulation

The two companies continue to tick items off their year-end to-do list, which analysts hope will tee up the merger for finalization in early 2025. Regulatory approval remains a major question.

TD Bank Group's money-laundering-related crimes have sparked questions of how banks should be penalized for moving dirty money. CFPB Director Rohit Chopra said the FDIC should do more.

Members of the Federal Deposit Insurance Corp. board of directors Tuesday debated Consumer Financial Protection Bureau Director Rohit Chopra's proposal limiting capital distributions system-wide during times of stress, as well as penalties for institutions caught engaging in money laundering.

After the Toronto-based bank faced record penalties in the U.S., it made new disclosures about its anti-money-laundering compliance obligations in Canada, where critics say regulators have been too lax.

Leonardo Ayala, who was a retail banker at a TD branch in Florida, faces criminal charges in connection with money-laundering activities.

The Toronto-based bank suspended its medium-term growth targets and announced a full-scale review of its strategies following historic anti-money-laundering failures.

A federal judge in Texas has blocked the enforcement of the Corporate Transparency Act, a key U.S. anti-money-laundering law that would require companies to report ownership details by January.

Canada's banking regulator is beefing up its rules on corporate culture, saying that it expects executives and boards to be accountable.

Whoever is named SEC chair by the president-elect is likely to take a lighter hand on crypto, AI and "regulation by enforcement."

Small Business Bank in Lennox, Kansas received another cease-and-desist order from the Federal Reserve for failing to comply with anti-money laundering and Bank Secrecy Act requirements for the second time in 14 months.