Elizabeth Warren Criticizes DOJ's Leniency on TD Bank Executives in Money Laundering Case

The U.S. Senator argues that the Department of Justice failed to hold TD Bank's top executives accountable, despite imposing historic fines.

TD Bank pleaded guilty to conspiracy to commit money laundering, resulting in over $3 billion in fines, the largest penalty of its kind in U.S. history.
Senator Warren's letter to the DOJ highlights the lack of charges against senior TD Bank executives, whom she believes should face accountability for the bank's failures.
Warren argues that the DOJ's decision not to pursue harsher penalties allows banks to view fines as a cost of doing business rather than a deterrent.
The DOJ has charged two non-executive employees but maintains that investigations into all levels of TD Bank are ongoing.
Critics, including Warren, suggest the DOJ avoided triggering the 'death-penalty' provision that could have led to the revocation of TD Bank's U.S. charter.