TD Bank to sell $15B stake in Charles Schwab

The decision comes after federal regulators in the U.S. levied more than $3 billion in fines against TD Bank and implemented a strict cap on asset growth against the company due to concerns over its anti-money laundering practices. to Toronto-based TD Bank is offloading its stake in Charles Schwab Corp. as part of a "strategic review" after federal regulators in the U.S. levied more than $3 billion in fines and implemented a strict cap on asset growth against TD due to concerns over anti-money laundering practices.