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Canadian Banc Corp T.BK

Alternate Symbol(s):  CNDCF | T.BK.PR.A

The Companys investment objectives are (i) to provide holders of Preferred Shares with cumulative preferential floating rate monthly cash dividends at a rate per annum equal to the Prime Rate plus 0.75%, with a minimum annual rate of 5.0% and a maximum annual rate of 7.0% (ii) to provide holders of Class A Shares with regular floating rate monthly cash distributions targeted to be at a rate per annum equal to the Prime Rate plus 2.0%, with a minimum targeted annual rate of 5.0% and a maximum targeted annual rate of 10.0% and (iii) to return the original issue price to holders of both Preferred Shares and Class A Shares at the time of the redemption of such shares on December 1, 2012.


TSX:BK - Post by User

Post by mousermanon Jun 07, 2024 9:41am
200 Views
Post# 36077260

TD hit with more troubles

TD hit with more troubles

The Financial Post reports in its Friday edition that fines against TD Bank tied to U.S. money-laundering probes may total as much as $4-billion (U.S.) following fresh allegations involving the lender, according to Jefferies analysts. A Bloomberg dispatch to the Post says that a former TD branch employee in Florida took a series of $200 (U.S.) bribes to help clients move millions of dollars to Colombia by skirting anti-money-laundering defences, prosecutors allege. In another recent case, a former branch employee in New York admitted to bypassing the bank's compliance measures to defraud a customer. TD is under investigation by the U.S. Department of Justice, bank regulators and the Treasury Department over allegations of money laundering and other financial crimes at several of the bank's U.S. branches. "While our previous estimate for the regulatory fines was at US$2 billion, given that a third AML issue has been reported, we now believe that this estimate could be low," Jefferies analysts led by John Aiken wrote in a report. "Although a US$4 billion fine does seem a bit high at this juncture, we cannot deny that it is still within the realm of possibilities, potentially eroding all of TD's current excess capital."

 
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