Although TD Bank has capital on hand to make acquisitions, it reportedly won’t be able to make them in the United States. A Barclays analyst said the regulatory challenges the bank faced when trying to buy First Horizon Bank will keep it from making acquisitions of other retail banks for...
Regulators’ concerns about TD Bank’s anti-money laundering (AML) practices reportedly ended its plans to acquire First Horizon Bank. The concerns of the Office of the Comptroller of the Currency (OCC) and the Federal Reserve centered on TD Bank’s handling of unusual transactions and its timeliness...
More open banking initiatives are emerging with a focus on business customers, even in markets in which open banking regulations are nonexistent. This week’s roundup looks at how the framework aims to wield industry collaboration to improve small business lending, treasury management, cross-border payments and...
For large, global financial institutions (FIs), modernizing is no easy feat. Bogged down by legacy infrastructure, big banks often find that FinTech collaboration wins in the “build-versus-buy” debate as a more agile way to digitize and bring competitive products to market. This week’s examination of...
May 23, 2023
A class-action lawsuit has reportedly been filed against TD Bank following its failed attempt to acquire First Horizon Bank. The Arbitrage Fund, which is a First Horizon shareholder, is suing TD Bank, alleging that it made misleading statements and omissions about the planned purchase, Seeking Alpha reported Tuesday (May 23). The Arbitrage Fund and TD Bank did not immediately reply […]
May 08, 2023
Regulators’ concerns about TD Bank’s anti-money laundering (AML) practices reportedly ended its plans to acquire First Horizon Bank. The concerns of the Office of the Comptroller of the Currency (OCC)...
