Toronto-Dominion Bank T.TD

First Hit

[Dibah420]

$450M. 
More to follow.  How many, how much, and when? Unka Masrani says don't worry be happy we are strong and we can take it.

[thumble]

Nah. This is good news. They are probably overallocating.

[Eyetradestocks]

I doubt it... I bet those over-the-hill-stooges [the CEO and Chair] along with their CFO and Risk Officer aren't even remotely close to the finally figures. This will be in the low BILLIONS...just watch. Recall that TD is the bank famous for opening up accounts for dead people that USE TO EXIST and when they ran of out those "customers" they quite simply started making up people

[dynopeg]

So, all you pundents out there, explain whats's been happening in last week with stock price? Looks like it's up about $1.50. Today looks like all Canadian banks down except TD. Up .62 while TSX down 300 points. Then they put aside 450 million after the bell. Everything I can read says this upcoming fine baked in, everyone knows it's coming but all estimates I see are 500 million to

[Puma1back]

short position increased 10% from mid March to mid April. I will be interested to see the change during last 2 weeks April. were they shorting into that run up from $78 or covering???  

[thumble]

I usually read the price action, as you said the stock bucked the market, there's little that the street doesn't know, banks are typically very conservative with their provisions, I have a large position over 20000 shares and my bet is that the $450M USD is generous based on what the bank already knows about the investigation and past cases. by the time everyone is clear on the final

[TheBridge]

Most investors prefer their bank holdings to be ones that employ and adequately train personal and hire management that is capable of ensuring that the bank has the confidence of the financial community, the government and the share holders........and particularly banks that know how to avoid taking "drops in the bucket." Shameful inept management, and where no one is held responsible

[FiddyFiddyShot]

One has to wonder how much the share price will drop should TD get smacked with a 1/2 BILLION or ONE BILLION dollar penalty for their little money laudering side hustle. How much will the share price drop, and will they slash the dividend to pay for penalties imposed on them for being sloppy ? Those 5 % GIC's are lookin' pretty sweet right about now eh ?

[dynopeg]

Absolutely they are! At this point in time, let's pose your  question 6 months from now. Same old hind sight, coulda, woulda,  soulda. We all made our bets. No lose until you  sell, I'll hang in there, collect dividend and wait. 

[FiddyFiddyShot]

I'll hang in there too, I'm well under my buy in price.   Pretty sad state of affairs when investing in one of the big banks isn't even safe....

[autofocus111]

TD has pretty deep pockets. The deeper the pockets the bigger the fines.

[thumble]

No I think you are exaggerating, there's no such precedence, this is not your mom and pop bank, believe me I spent 7 years in aml.

[Dibah420]

With your 7 years in AML surely you have some idea how this boondoggle happened.  Was it just one or two rogue traders or middle management?  Senior management had no idea of what was going on? Or they knew but pretended not to know as long as the profits were coming in.  Was anyone held accountable?  I note that Masrani was heading the US operations at the time. Thanks