Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
I'm surprised TD Bank is the only bank penalized for money laundering. Anybody living in Canada can easily realize this entire country is running in money laundry from real estate to hospitality to the "TFW" program. I'm also surprised none of the offenses caught happening in Canada.
Ever since Bharat took leadership, the whole culture and work conditions have been crap. He’s the main reason why TD will continue to fail. Ed Clark led TD to some decent gains, but Bharat is running it into the ground.
For decades the TD has made " Adventurous " decisions to promote faster, bigger growth. Most of which went on in America.. Since the huge TruDoh government off loading Canadian dollars to whatever the banks wanted, the TD were quite happy to continue the "Adventurous " They've been bailed out before.
@@emrahtestere5372 it has nothing to do with woke policies. The problem is that the current board of directors under Bharat have their heads in the sand thinking everything will be alright. Ed Clark was at least at the forefront with sharing information and feedback. Now you barely get a word from TD
@@InTecknicolour I can agree with that. When TD started lagging behind under Bharat, RBC saw the opportunity to improve their services and culture to make them more transparent and open. Now TD is behind.
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
Culture eats policy for breakfast. 20 years ago (ish), TD had the $5 guarantee: less than 5 minutes in line or $5 into your account. Today I spent 25 minutes waiting in line at a branch with 9 slots for teller positions but only 5 had a terminal and only three tellers were working. In the meantime, very expensively produced video ads on the wall tout their tree planting initiatives. I am all for social responsibility and environmentaly sensible business practices, but a bank’s mandate is to serve its customers efficiently and protect their money. TD quality of servicehas been in decline for at least 15 years, all the while service fees are going through the roof.
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
I'm near the bottom of the retail banking department as a personal banking associate and we're seeing such a disheartening change in higher management and the expectations of employees. More sales requirements without matching compensation. And we have no more tellers putting more stress on us as bankers and causing more frustration for the customers. I was really excited to start my personal finance career at TD but I'm leaving like most of my colleagues.
I also used to be in the industry. we had weekly audits, monthly and quarterly. I also wasnt client facing. we dealt with the banks' internal accounts on a final balance level. It was required. Privacy was audited too - daily, weekly, monthly
The AML training relies on people caring. Caring about their job, caring about their college’s, caring about doing a good job etc. that is no longer true. Those who still care are taken advantage of. AML people will always find ways around thing especially when people don’t care anymore
I've banked witb TD since I was a teen. No big problems. Now, everytime I walk into a branch without fail the teller asks if I want a loan, or to up my credit limit. So annoying. Definitely looking elsewhere for my banking.
I don't know what the problems are at TD. However, here in Canada, TD used to be a great bank for ordinary consumers. It is not so much anymore. Small business is also having a lot of difficulty with TD management or many of the processes. Water runs downhill and I believe TD won't change until the top levels are changed. Normally, in time, the water will flow down to the teller level for consumers. Bank managers will be more open, friendly. Tellers more relaxed and co-operative with clients. Consultants more open to explaining details to their clients and also giving additional insights whenever it may be needed. It was very difficult trying to have a back and forth conversation with our consultant. It was like he was brain dead, unable to think. Frustration in the extreme.
Hate TD. Unless you have a lot money invested with them you don't count. In essence you are not a customer, you are the product. The shareholders are the customer.
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
Horrible customer service..I was talked to horribly this morning. I asked to be transferred back to my original connection..and told no..I was being put on hold so they could check on a year old late card mailed out red flag even after explaining that there is no problem..Rediculous.
@@heatherwhittaker6169 Obviously you’re not a High Roller Cartel member laundering 10’s of millions a year through the bank. Otherwise you would be getting the red carpet treatment from the branch manager on down.
I personally enjoyed my time working at TD but I worked for the credit card division and the bullying and immaturity I saw is appalling and those ppl were there for 10 years or some shit. Very very deplorable. Too bad, it’s a great bank
They’re a bank. They need to focus on proper banking practices and leave out all the other nonsense that isn’t related to banking. I bank with them but they pay me not the other way around. I have no issue taking their money. 🤑
The customer service representatives are no longer taking responsibility for their actions. I want to believe that because Management/ managers/ supervisors are just drawing a paycheque along with the agents. The system is no longer as strong as before. They Have To NOW implement the Performance and let EVERYONE understand work with performance otherwise let them go! Yes CUSTOMER SERVICE is paramount likewise the Reps performance and responsibility. TIME TO DRAW THE LINE!
I've been their customer for about 20 years...and I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
I just got an email that i can no longer make online payments from my TD business account for business payments (CRA, Insurance, Suppliers, Utilities, etc.) If TD can't handle my business payments then they sure as heck can't handle my checking account, savings account, PLC, TD Visa, TFSA, RRSP, or my my mutual fund accounts. Adios TD, and I'm taking my business and TD merchant account with me as well.
Tim attributes several key challenges at TD to a focus on social issues, a strong emphasis on environmental initiatives, and alignment with the broader Canadian Zeitgeist. He suggests that the AML (Anti-Money Laundering) failings were partly due to a significant cultural shift within the organization. Tim also references the concept of "alpha males" and specifically mentions Bharat Masrani, the current CEO, in this context. Is Tim implying that a "woke" or DEI (Diversity, Equity, and Inclusion) culture is contributing to the problems at TD?
I don’t think so, since “alpha male” seems quite opposite to inclusive, equitable or diverse and alpha males hardly seem “woke”. I think he’s saying that the current CEO introduced a culture that goes against the focus on social issues and environmental issues that was the old TD and that this new “alpha male” culture is what is wrong with the bank today.
They are always adminstistering fines to banks. What else is new? TD can afford the fines. There problem is that they can't pass there loss off to the consumers.
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
I left TD 20 years ago, when they started hosing me on fabricated 'business charges'. to the tune of 300 bucks a month. No great service, they weren't doing anything. I had to deposit 2 cheques a month, and they claimed this was the fee for processing cheques in a business account. I had to stand in line for 20 minutes; they had no 'business' teller, so this is on my work time. I dropped them like a hot potato and they made it really really hard to close that account. I'd been with them at 15 yrs old, and felt 'loyal'. No loyalty when this hosing went on. I tried to talk to a manager about it, but the manager was never made available to me. Such BS. I hope they're audited and I hope they're fined to the max.
TD Bank in Swan River Manitoba is one of the worst banks I have ever dealt with. I took my Debit Card in to have it set up to use in the US three times and every time tried to use it in the US,it wouldn’t work. I also have had a problem with one of the senior managers who thinks she can talk down to me or blow me off when I try to transfer money to one of my US Accounts. I don’t know where I can file a complaint about this so I’ll start here.
Can the provision they set aside influence the regulator's decision? Could this large provision be a way to tell the regulator "we realize how serious our infraction was and we will work to fix it"?
The entire 'problem' is that there is NO "great big pile of cash"..... it's all just a system of IOU's as Financial so-called 'assets' where if you OWE me that DEBT is my 'asset' ? TD's fine is just a canary in the Coal Mine. Starting to see the bigger problem with all of the Canadian Big Bank Mortgage Portfolio "Chattel" valuations held on their Books ? NONE of those valuations are now accurate as still 4.5 Million Canadian Mortgages(750K NEGAMS still increasing balances) are all renewing here through Q4/2026..... all at higher rates than when initiated intending the "hit" to our consumer spending reliant gdp will be significant as consumers re-allocate to higher payments....'recession' but also... as those Mortgage P{ortfolio "chattels" correct 'mark to market' under increasing Listings/lower Sales prices.
As a former AML/CTF consultant, I can say that people on the outside don't understand anything about compliance and risk, nor how subjective the environment actually is on our side of the transaction. Someone behind the scenes and for sure at the management level royally screwed up at TD Bank, BUT, I will say, it is not unheard of for any institution to quash an investigation, stepping on the feet of an AML specialist. So, let me be frank here: even if someone on the front line "may have been involved", this could have EASILY been stopped by a hawk behind the scenes. The problem is, banks DON'T like hawks and will put the wrong people in certain vulnerable positions on purpose. If I ever opened my mouth, governments would fall.
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
The TD banks culture has always been corrupt. I worked in the td bank ontario mail room in the late 90s as a temp, and I pointed out multiple accounts depositing 9,999 dollars day after day. Was told to keep quiet or lost my job.
I see where your going with this, though I have to believe there are people who are simply following the rules with a strategy in mind. Nothing wrong with that.
@@seanh2390 it sounds like a mail in deposit, cheque perhaps .. the little people definitely opened the mail in those days. It is surprising what the secretaries knew and were tasked with doing. Some even wrote the correspondence for VP level managers.
It interesting to observe how the banks are looking for any excuse to blame anything on their demise, but to blame management. Service in all banks have collapsed due to DEI. Banks are not banks, they are sale centres, so most people don’t want to go into banks because staff is not there for customers, the customers are there for them. Go into a bank and try to go to a teller, banks only have one teller, this does NOT work, management thought this will work but now they don’t want to change it because it will make them look inadequate. I can go on and on.
13:43 acknowledge the problem exists 14:12 NY in 2022, AML 15:16 addresses to public 16:30 denial 18:20 ….. 19:45 Canada 19:55 US - 6th 21:07 straight strategy 21:33 drug money 💰 22:17 goodwill
This was really poorly presented. You repeatedly mention "AML issues" without discussing in any detail what the anti-moneylaundering issues are. What did TD do or not do? What are the allegations behind the potential fines that may be levied against TD? We got the minutiae of "TD culture", but no discussion of what problems that culture actually created.
Please help me do that! They took my all my savings..I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
Please Help! I've been robbed by my TD Bank in Worcester, Park Ave. I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion. Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
Lots of environmental grads competing for too few jobs, me included. Been this way for a long time. I never heard of TD being pro-environment so sounds like it's more virtue signalling than anything.
RBC never looked at TD and said that TD has got it right. RBC is leagues ahead of TD when it comes to the environment. TD and BMO don’t even have environmental risk teams and TD only got the environmental part from Canada Trust Friends of the Environment program. The commentator does not know what he is talking about
So it wasn't just HSBC inflating the housing bubble td was out performing them...k.. got it...the same bank that adjusted my account twice a month for a few cents down because they don't know how math works...riiight
This interview is so empty of specifics that it's almost annoying. My only conclusion is that providing the facts and telling the truth could or would be politically incorrect. On another note, all these new hires seem to bring with them a truly rotten corporate culture. Are they the products of our universities?
T d bank invested in evergrand and get into debt default just as every other instution in america all thing america tied up to debt to china evergrand from captain to cook 😂😂😂❤❤
Bank failures are likely to continue increasing due to rising interest rates, as it causes their commercial paper and treasuries to become devalued. To prevent a severe economic downturn, it is necessary to implement a freeze on interest rates. Simultaneously, the White House should support the industry in boosting gas and oil production to lower fuel prices. The anti-oil stance only contributes to higher energy costs, leading to inflation throughout the economy. By reducing interest rates, tightening the money supply, cutting government expenditures, and increasing the availability of affordable fuel, inflation will decrease, and the economy will thrive. Unfortunately, various conflicting agendas make it unlikely for all these measures to be implemented, resulting in a recession and persistent inflation.
In light of the ongoing global economic crisis, it is crucial for everyone to prioritize investing in diverse sources of income that are not reliant on the government. This includes exploring opportunities in stocks, gold, silver, and digital currencies. Despite the challenging economic situation, it remains a favorable time to consider these investments.
It's often true that people underestimate the importance of financial advisors until they feel the negative effects of emotional decision-making. I remember a few summers ago, after a tough divorce, when I needed a boost for my struggling business. I researched and found a licensed advisor who diligently helped grow my reserves despite inflation. Consequently, my reserves increased from $275k to around $750k.
Please can you leave the info of your investment advisor here? I’m in dire need for one
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Melissa Terri Swayne” for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thank you for the information. I conducted my own research and your advisor appears to be highly skilled and knowledgeable. I've sent her an email and arranged a phone call. Her expertise is impressive, and I'm eagerly anticipating our conversation.
Fire the CEO and the board of directors. Inexcusable.
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
Jail time... Banksters MUST be held responsible for those under them. Until that time, this stuff will continue.
I'm surprised TD Bank is the only bank penalized for money laundering. Anybody living in Canada can easily realize this entire country is running in money laundry from real estate to hospitality to the "TFW" program.
I'm also surprised none of the offenses caught happening in Canada.
Ever since Bharat took leadership, the whole culture and work conditions have been crap. He’s the main reason why TD will continue to fail. Ed Clark led TD to some decent gains, but Bharat is running it into the ground.
100 you nailed it with that comment. TD needs a new CEO, someone from outside the the TD family.
For decades the TD has made
" Adventurous " decisions to promote faster, bigger growth. Most of which went on in America.. Since the huge TruDoh government off loading Canadian dollars to whatever the banks wanted, the TD were quite happy to continue the "Adventurous " They've been bailed out before.
@@emrahtestere5372 it has nothing to do with woke policies. The problem is that the current board of directors under Bharat have their heads in the sand thinking everything will be alright. Ed Clark was at least at the forefront with sharing information and feedback. Now you barely get a word from TD
rbc is still the gold standard by a country mile. TD look like idiots now. Maybe the other 4 banks will try to take some market share now
@@InTecknicolour I can agree with that. When TD started lagging behind under Bharat, RBC saw the opportunity to improve their services and culture to make them more transparent and open. Now TD is behind.
All the major banks in Canada need to be looked at through a scrutinizing lens.
It's the leadership ...right from the top...that's the real challenge at TD. The CEO truly needs to be replaced!
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
Culture eats policy for breakfast. 20 years ago (ish), TD had the $5 guarantee: less than 5 minutes in line or $5 into your account. Today I spent 25 minutes waiting in line at a branch with 9 slots for teller positions but only 5 had a terminal and only three tellers were working. In the meantime, very expensively produced video ads on the wall tout their tree planting initiatives. I am all for social responsibility and environmentaly sensible business practices, but a bank’s mandate is to serve its customers efficiently and protect their money. TD quality of servicehas been in decline for at least 15 years, all the while service fees are going through the roof.
I left TD because they tried blackmail me 7 years ago, it's relaxing to hear this message of their failure.
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
I'm near the bottom of the retail banking department as a personal banking associate and we're seeing such a disheartening change in higher management and the expectations of employees. More sales requirements without matching compensation. And we have no more tellers putting more stress on us as bankers and causing more frustration for the customers. I was really excited to start my personal finance career at TD but I'm leaving like most of my colleagues.
As a former employee in the industry, AML training was required even for those not in client facing roles. How did they ever go so wrong?
Higher and higher sales targets is how they went so wrong
I also used to be in the industry. we had weekly audits, monthly and quarterly. I also wasnt client facing. we dealt with the banks' internal accounts on a final balance level. It was required. Privacy was audited too - daily, weekly, monthly
The AML training relies on people caring. Caring about their job, caring about their college’s, caring about doing a good job etc. that is no longer true. Those who still care are taken advantage of. AML people will always find ways around thing especially when people don’t care anymore
I've banked witb TD since I was a teen. No big problems. Now, everytime I walk into a branch without fail the teller asks if I want a loan, or to up my credit limit. So annoying. Definitely looking elsewhere for my banking.
sounds like the culture at TD has gone woke and broke, shareholders fire the CEO
TD is now, in my opinion, no longer a Canadian based bank, but an American bank with a Canadian name. Sad.
@kevindelaney1951 TD in the U.S.has to be a American bank. It is a totally separate bank not a branch.
Wow!! ... Surprised that a Canadian Bank is in Trouble!!
I don't know what the problems are at TD. However, here in Canada, TD used to be a great bank for ordinary consumers. It is not so much anymore. Small business is also having a lot of difficulty with TD management or many of the processes.
Water runs downhill and I believe TD won't change until the top levels are changed. Normally, in time, the water will flow down to the teller level for consumers. Bank managers will be more open, friendly. Tellers more relaxed and co-operative with clients. Consultants more open to explaining details to their clients and also giving additional insights whenever it may be needed. It was very difficult trying to have a back and forth conversation with our consultant. It was like he was brain dead, unable to think. Frustration in the extreme.
Time to get my money out!
Hate TD. Unless you have a lot money invested with them you don't count. In essence you are not a customer, you are the product. The shareholders are the customer.
In essence, you are not a customer, you are an inconvenience!
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
Canadian banks (TD or RBC) must learn about the doing business in the US which is very different from operating in Canada.
Yep competition.
Greed and corruption crosses borders.
Stay away from USA and its system!
Horrible customer service..I was talked to horribly this morning. I asked to be transferred back to my original connection..and told no..I was being put on hold so they could check on a year old late card mailed out red flag even after explaining that there is no problem..Rediculous.
@@heatherwhittaker6169 Obviously you’re not a High Roller Cartel member laundering 10’s of millions a year through the bank. Otherwise you would be getting the red carpet treatment from the branch manager on down.
I pulled over 200 thousand out because they snooped into my accounts and locked my accounts due to trucker possible donations
As long as senior management get their millions dollars bonus they don’t care
TD CEO, Bharat, has filled the top management with DEI hire, including key management people from his particular tribe and ethnic group.
This is what we're seeing in every company now. They get into positions of power and then only hire their own.
I personally enjoyed my time working at TD but I worked for the credit card division and the bullying and immaturity I saw is appalling and those ppl were there for 10 years or some shit. Very very deplorable. Too bad, it’s a great bank
No TD can not be trusted.
I had dealings with them played dirty !
They’re a bank. They need to focus on proper banking practices and leave out all the other nonsense that isn’t related to banking. I bank with them but they pay me not the other way around. I have no issue taking their money. 🤑
This bank has been terrible for years and hid it well!
The customer service representatives are no longer taking responsibility for their actions. I want to believe that because Management/ managers/ supervisors are just drawing a paycheque along with the agents. The system is no longer as strong as before. They Have To NOW implement the Performance and let EVERYONE understand work with performance otherwise let them go! Yes CUSTOMER SERVICE is paramount likewise the Reps performance and responsibility. TIME TO DRAW THE LINE!
Shut my account after 26 years because a teller cost me $3000 in extra expenses after lying to my face.
I've been their customer for about 20 years...and I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
I find it amazing that the stock hasn’t been punished more 🤷♂️
It's already started its recovery . I'm already up 8% from its initial fall
Too big to fail?
I just got an email that i can no longer make online payments from my TD business account for business payments (CRA, Insurance, Suppliers, Utilities, etc.)
If TD can't handle my business payments then they sure as heck can't handle my checking account, savings account, PLC, TD Visa, TFSA, RRSP, or my my mutual fund accounts. Adios TD, and I'm taking my business and TD merchant account with me as well.
Tim attributes several key challenges at TD to a focus on social issues, a strong emphasis on environmental initiatives, and alignment with the broader Canadian Zeitgeist. He suggests that the AML (Anti-Money Laundering) failings were partly due to a significant cultural shift within the organization. Tim also references the concept of "alpha males" and specifically mentions Bharat Masrani, the current CEO, in this context. Is Tim implying that a "woke" or DEI (Diversity, Equity, and Inclusion) culture is contributing to the problems at TD?
Well…the U.S. presidential economic advisor openly admits he doesn’t understand how bonds work…so there’s that.
I don’t think so, since “alpha male” seems quite opposite to inclusive, equitable or diverse and alpha males hardly seem “woke”.
I think he’s saying that the current CEO introduced a culture that goes against the focus on social issues and environmental issues that was the old TD and that this new “alpha male” culture is what is wrong with the bank today.
They are always adminstistering fines to banks. What else is new? TD can afford the fines. There problem is that they can't pass there loss off to the consumers.
Every time banks are in the news for some eyebrow-raising behaviour, it seems TD is among them.😕 I'm so glad I've never been with them.
I worked for TD. becoming garbage.
Sounds like the Execs who left were feeling the heat of exposure not frustration!
They closed my account without notifying me
Ed was a really good CEO I work at this time when the new CEO came in I left because it changed so much !
So much for ESG
Speaking from personal experiences, TD Bank is the worst bank in Canada.
Unethical bank gets karma
And everything they did is A-Ok in Canada???
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
i thought they were a laundromat...i guess i was wrong , silly me...
All banks
I left TD 20 years ago, when they started hosing me on fabricated 'business charges'. to the tune of 300 bucks a month. No great service, they weren't doing anything. I had to deposit 2 cheques a month, and they claimed this was the fee for processing cheques in a business account. I had to stand in line for 20 minutes; they had no 'business' teller, so this is on my work time. I dropped them like a hot potato and they made it really really hard to close that account. I'd been with them at 15 yrs old, and felt 'loyal'. No loyalty when this hosing went on. I tried to talk to a manager about it, but the manager was never made available to me. Such BS. I hope they're audited and I hope they're fined to the max.
TD Bank in Swan River Manitoba is one of the worst banks I have ever dealt with. I took my Debit Card in to have it set up to use in the US three times and every time tried to use it in the US,it wouldn’t work. I also have had a problem with one of the senior managers who thinks she can talk down to me or blow me off when I try to transfer money to one of my US Accounts. I don’t know where I can file a complaint about this so I’ll start here.
Can the provision they set aside influence the regulator's decision? Could this large provision be a way to tell the regulator "we realize how serious our infraction was and we will work to fix it"?
Liars and cheats always get caught. Doesn’t matter if you are Prime Minister, Banker, or the Garbage Man
The entire 'problem' is that there is NO "great big pile of cash"..... it's all just a system of IOU's as Financial so-called 'assets' where if you OWE me that DEBT is my 'asset' ?
TD's fine is just a canary in the Coal Mine.
Starting to see the bigger problem with all of the Canadian Big Bank Mortgage Portfolio "Chattel" valuations held on their Books ?
NONE of those valuations are now accurate as still 4.5 Million Canadian Mortgages(750K NEGAMS still increasing balances) are all renewing here through Q4/2026..... all at higher rates than when initiated intending the "hit" to our consumer spending reliant gdp will be significant as consumers re-allocate to higher payments....'recession'
but also...
as those Mortgage P{ortfolio "chattels" correct 'mark to market' under increasing Listings/lower Sales prices.
By `Criminals have become sophisticated` you mean integrated.
Haha they mean bankers have become criminals.
As a former AML/CTF consultant, I can say that people on the outside don't understand anything about compliance and risk, nor how subjective the environment actually is on our side of the transaction.
Someone behind the scenes and for sure at the management level royally screwed up at TD Bank, BUT, I will say, it is not unheard of for any institution to quash an investigation, stepping on the feet of an AML specialist.
So, let me be frank here: even if someone on the front line "may have been involved", this could have EASILY been stopped by a hawk behind the scenes. The problem is, banks DON'T like hawks and will put the wrong people in certain vulnerable positions on purpose.
If I ever opened my mouth, governments would fall.
Open it
Perfect time to buy the stock. Already trading at a steep discount
Canadian Charter banks in Canada are not allowed to go bqnkrupt! Full stop. G&M can say whatever they want, makes no difference.
This bank is a nightmare
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
The TD banks culture has always been corrupt. I worked in the td bank ontario mail room in the late 90s as a temp, and I pointed out multiple accounts depositing 9,999 dollars day after day. Was told to keep quiet or lost my job.
I see where your going with this, though I have to believe there are people who are simply following the rules with a strategy in mind. Nothing wrong with that.
Forgive my ignorance but why did those deposits lead you to believe that there was a corrupt culture?
someone working in the mailroom does not get to see customer transaction information
@@seanh2390 it sounds like a mail in deposit, cheque perhaps .. the little people definitely opened the mail in those days. It is surprising what the secretaries knew and were tasked with doing. Some even wrote the correspondence for VP level managers.
@@seanh2390yes, you do. When you sign for multiple deliveries of cash for deposit, continuously everyday. What did you think the mailroom did?
Very good video
Bunch of used car salesmen
It interesting to observe how the banks are looking for any excuse to blame anything on their demise, but to blame management. Service in all banks have collapsed due to DEI. Banks are not banks, they are sale centres, so most people don’t want to go into banks because staff is not there for customers, the customers are there for them. Go into a bank and try to go to a teller, banks only have one teller, this does NOT work, management thought this will work but now they don’t want to change it because it will make them look inadequate. I can go on and on.
And who will be jailed?
I beg your finest pardon. Only 20 seconds in and money laundering is being mentioned already?! Mercy
Acronyms are annoying.
Toronto Dominion Bank
Thank you for trying to help, but that’s not the acronym that I was referring to. The one I was referring to was (AML)Anti- money laundering.
They serve to signify who the cool kids are.
What did the cancellation of the First Horizon acquisition cost TD?
8:05 culture change
8:47 investor relationships
9:07 transparency
9:21 10 years of current CEO
11:30 AML
13:43 acknowledge the problem exists
14:12 NY in 2022, AML
15:16 addresses to public
16:30 denial
18:20 …..
19:45 Canada
19:55 US - 6th
21:07 straight strategy
21:33 drug money 💰
22:17 goodwill
This was really poorly presented. You repeatedly mention "AML issues" without discussing in any detail what the anti-moneylaundering issues are. What did TD do or not do? What are the allegations behind the potential fines that may be levied against TD?
We got the minutiae of "TD culture", but no discussion of what problems that culture actually created.
Whats going on at RBC Bank ?
The reporter went full Gollum @ 20:04
Sent me for a loop lol
They better smarten up or I’m going be taking them to court
Please help me do that! They took my all my savings..I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
Freezing more bank accts. !!!!!
Those credit unions too
HSBC is closed, seems to have merged with RBC.
TD obsessions with DEI hiring is also a reason for their downfall.
Probably organized crime.
It's spelled DEI but pronounced DIE.
Look theirs advertising.
Please Help!
I've been robbed by my TD Bank in Worcester, Park Ave. I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
Been with TD for almost 4 decades and NEVER had a problem. They are no better or worse than anyone else, including “trust” banks.
Are you aware of their DEI policy and the charity’s they support? Have you renogotiated your mortgage lately?
@@LinA-it9vd what about their DEI?
I've been robbed by my TD Bank in Worcester, Park Ave...I have been begging them for a resolution, and to all governmental agencies, to no avail! I'm asking for solidarity, and compassion.
Today it is my money disappearing in a simple Wire Transfer, tomorrow it could be yours😢😪 I'm out of options.🥺
These banks must be generating insane profit to be able to pay fines that are counted in billions. How are these banks making that kind of profit?
I only ever fired one client...
TD has become more WOKE and thus less interested in profits or survival.
TD … Trust with Doubt
Lots of environmental grads competing for too few jobs, me included. Been this way for a long time. I never heard of TD being pro-environment so sounds like it's more virtue signalling than anything.
Good podcast 👍
Then there's the "woke" or "clown" endorsing practices. I'd change banks if I banked there.
RBC never looked at TD and said that TD has got it right. RBC is leagues ahead of TD when it comes to the environment. TD and BMO don’t even have environmental risk teams and TD only got the environmental part from Canada Trust Friends of the Environment program. The commentator does not know what he is talking about
Canada has fallen and it was never a great bank
Bitcoin People. Once you know you will NEVER go back. For the people. By the people. Your welcome 💖
#BITCOIN
Vraiment étrange! Y a-t-il d'autres banques canadiennes ou québecoises d'impliquées?
Does anybody know ho to report this? This is NOT the place for podcasts
nobody forcing you to watch )
What are you talking about?
Connections to Chinese and Macau money laundering x Canadian Real Estate
So it wasn't just HSBC inflating the housing bubble td was out performing them...k.. got it...the same bank that adjusted my account twice a month for a few cents down because they don't know how math works...riiight
This interview is so empty of specifics that it's almost annoying. My only conclusion is that providing the facts and telling the truth could or would be politically incorrect. On another note, all these new hires seem to bring with them a truly rotten corporate culture. Are they the products of our universities?
😮😮😮😮
All discounted and baked into the cake. Nothing the market doesn't already know. No new news here. Yawn....
T d bank invested in evergrand and get into debt default just as every other instution in america all thing america tied up to debt to china evergrand from captain to cook 😂😂😂❤❤
Well, they illegally froze trucker donator accounts.
How can they be trusted? 😊
By a court order not on their own accord. Charter banks operate under Govt of Canada terms.
@@youknowcrimedontpay9257Nope, they froze the assets Before the Emergency Measures Act...
Says the LIAR.....TD had no control over freezing of accounts of your beloved illegal truckers. Stop spreading lies, liar.
This over compliance lost my trust for sure.
@@geoattoronto
💥🎯 100%💥
😂was Canada asleep aT the switch....ie Bank of Canada.?.