“The investigation was launched after agents uncovered an operation in New York and New Jersey that laundered hundreds of millions…”

The WSJ said a Justice Department investigation was opened into TD Bank’s anti-money-laundering controls, specifically concentrating on how Chinese crime groups and drug traffickers used the Canadian lender to launder money from US fentanyl sales. Wall Street Journal report revealed the bank’s involvement in a $653 million drug money-laundering scheme. The bank’s anti-money laundering program “fell short and did not effectively monitor, detect, report or respond.” 

“With the bank allegedly a focal institution in a drug money-laundering scheme, the worst-case scenario has become more likely with TD potentially entering a lost decade,” Aiken told clients, adding, “Growth in the US will likely be constrained, and the timeline for a fix is extended by several years.”

https://www.zerohedge.com/markets/toronto-dominion-bank-risks-entering-lost-decade