Bank
TD BankInformation and Alerts
Alert Details
This business has 4 alerts.
Government Actions 1
Consumer Financial Protection Bureau Vs. TD Bank
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
As of September 11, 2024 the Consumer Financial Protection Bureau (CFPB) ordered TD Bank to pay $7.76 million to tens of thousands of victims of the bank’s illegal actions. For years, the bank repeatedly shared inaccurate, negative information about its customers to consumer reporting companies. The information included systemic errors about credit card delinquencies and bankruptcies. In addition to the redress, the CFPB is ordering TD Bank to pay a $20 million civil money penalty.
Government Actions 2
United States of America Financial Crimes Enforcement Network Department of Treasury vs. TD Bank, N.A. and TD Bank USA, N.A
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
As of October 10, 2024, TD Bank is paying $3 billion to settle charges that it failed to stop drug cartels from laundering money through its accounts. The US government found that TD Bank did not properly monitor transactions, which allowed criminal networks to move more than $670 million through the bank. This failure led to a record fine of $1.3 billion to the US Treasury, along with another $1.8 billion to the Department of Justice.
Accreditation Revocation
On 11/19/2024 this business's accreditation in the BBB was revoked by the BBB's Board of Directors due to failure by the business to adhere to the BBB requirement that Accredited Businesses meet and abide by the following standards:
1C. Be free from government action that demonstrates a significant failure to support BBB ethical principles. BBB evaluates the action and makes a determination on adherence to this standard based on the nature of the violation and the extent of harm it caused or is alleged to have caused, whether it was caused or condoned by management, and actions taken to resolve underlying issues that led to the government action.
Alert
This BBB only processes complaints in regards to TD Bank banking accounts.
If you have a complaint regarding your Target credit card, issued by TD Bank, please file your complaint against Target Card here.
Important Information
This business is not BBB accredited.
Businesses are under no obligation to seek BBB accreditation, and some businesses are not accredited because they have not sought BBB accreditation.
To be accredited by BBB, a business must apply for accreditation and BBB must determine that the business meets BBB accreditation standards, which include a commitment to make a good faith effort to resolve any consumer complaints. BBB Accredited Businesses must pay a fee for accreditation review/monitoring and for support of BBB services to the public.
Additional Info
Service Area
- USA
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