work
The closure will occur as banks deal with massive penalties for US money laundering conspiracy violations.
TD Bank continues to close six Massachusetts branches after the institution's LAX practice allowed large money laundering at the location.
According to a filing with the Secretary of Currency's office, TD Bank submitted in March to close 37 locations across the country.
According to TD Bank's Websitewith 149 retail stores in the state, including those that are closed.
The closure at TD Bank North America, the 10th largest bank in the US, comes after agreeing to pay a $1.8 billion penalty In a historic village Last year, US authorities were unable to prevent money laundering, making it convenient for criminals.
The Justice Department said TD Bank was unable to update its Money Laundering Anti-Money Compliance Program to address known risks for nearly a decade.
“These mistakes have made banks a 'easy target' for 'bad guys',” Aide Nicole Argentieri said in a press release.
The Justice Department said the disability allowed hundreds of millions of dollars to flow through the banks from money laundering networks, including international drug traffickers.
since then, Reuters The company reported that it has seen changes in leadership. Last year, 40 senior executives received a total of $30 million in pay cuts.
Canada-based TD Bank reported revenue of $8.4 billion last year and has 2,192 retailers in North America.
The bank did not respond to a request for comment on whether the closure was part of our recent cost-cutting measures.
TD Bank has applied to close its next Massachusetts retail store.
- 465 North Main St., East Longmeadow
- 2345 Main St., Tewksbury
- 50 Holyoke St., Holyoke
- 420 Franklin St., Framingham
- 860 South Main Street, Bradford
- 547 Broadway, Meuthen
Sign up for Today Newsletter
Get everything you need to know to start your day delivered to your inbox every morning.
