TD Bank to Close 38 Branches Across 10 States and D.C.

The closures, set to be completed by June 5, 2025, are part of a strategic shift toward digital banking following a $3 billion money-laundering settlement.

• TD Bank is closing 38 branches in 10 states and Washington, D.C., with six closures in Massachusetts, including locations in East Longmeadow, Tewksbury, and Holyoke.
• The closures are part of an operational strategy to adapt to declining in-person banking and increasing digital banking usage.
• The decision follows a $3 billion settlement with the U.S. Department of Justice over money-laundering violations between 2018 and 2024.
• TD Bank is providing resources to support employees impacted by the closures and plans to open new branches in underserved areas, such as Nubian Square, Massachusetts.
• Leadership changes, including the appointment of Raymond Chun as CEO, are aimed at guiding the bank through this transitional period.

3 Articles

Newsweek Boston Globe The Street