{"id":958607,"date":"2026-11-05T00:12:19","date_gmt":"2026-11-05T00:12:19","guid":{"rendered":"https:\/\/www.newsbeep.com\/ca\/958607\/"},"modified":"2026-11-05T00:12:19","modified_gmt":"2026-11-05T00:12:19","slug":"ontario-court-certifies-class-action-suit-against-td-bank","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ca\/958607\/","title":{"rendered":"Ontario court certifies class-action suit against TD Bank"},"content":{"rendered":"<p class=\"c-paragraph\">TORONTO \u2014 An Ontario court has certified a class-action lawsuit against TD Bank and certain members of its senior leadership team including former CEO Bharat Masrani in relation to its anti-money laundering program. <\/p>\n<p class=\"c-paragraph\">The lawsuit alleges that the lender misrepresented long-standing deficiencies in the program between 2021 and 2024 and prioritized profits over regulatory compliance. <\/p>\n<p class=\"c-paragraph\">TD was fined more than US$3 billion by U.S. regulators in 2024 after pleading guilty to multiple charges related to failures in the program. <\/p>\n<p class=\"c-paragraph\">The lawsuit says those failures led to its subsidiaries becoming the first banks in U.S. history to plead guilty to conspiracy to commit money laundering. <\/p>\n<p class=\"c-paragraph\">According to the lawsuit, that caused significant investor losses when the company\u2019s market capitalization dropped by $30 billion. <\/p>\n<p class=\"c-paragraph\">The defendants in the lawsuit deny the allegations, and TD Bank did not immediately respond to a request for comment. <\/p>\n<p class=\"c-paragraph\">This report by The Canadian Press was first published Nov. 4, 2026. <\/p>\n","protected":false},"excerpt":{"rendered":"TORONTO \u2014 An Ontario court has certified a class-action lawsuit against TD Bank and certain members of its&hellip;\n","protected":false},"author":2,"featured_media":958608,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[45,49,48,713],"class_list":["post-958607","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-ca","tag-canada","tag-justice"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/958607","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=958607"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/958607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/958608"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=958607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=958607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=958607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}