5 things to know about the TD Bank scandal

Toronto-Dominion Bank, commonly referred to as TD Bank, is facing unprecedented fines and penalties from U.S. officials after allegedly failing to stop hundreds of millions of dollars in drug money laundering. 

The bank agreed to pay more than $3 billion to various U.S. agencies and limit its growth until officials say TD Bank has done enough to fix its internal oversight issues. The U.S. may also force TD Bank to reduce its assets if it can’t shape up along the terms of the settlement.