On October 10, 2024, in a historic settlement with U.S. authorities, TD pleaded guilty and agreed to pay $3 billion in combined penalties for money laundering conspiracy over a decade, including failure to monitor trillions in potentially suspicious transactions annually, necessitating a four-year independent monitorship and comprehensive AML reforms.

[9][10] The acquisition added Nordstrom to TD's growing folio of private-label cards that includes Target, NordicTrack, and Tourneau.

[15] In October 2015, a class action lawsuit was filed against TD Bank claiming that it violated the Telephone Consumer Protection Act of 1991.

[20][needs update] Many cases of financial penalties against the company do feature mitigating factors including accidental human error at branches due to customers presenting fraudulent information; however, the company has been assessed penalties in excess of $197 million since the year 2000 for consumer, banking, investor protection, wage and privacy violations.

[21] On October 10, 2024, in a landmark enforcement action, the U.S. Treasury Department's Financial Crimes Enforcement Network (FinCEN) levied a record-breaking $1.3 billion penalty against TD Bank for chronic violations of anti-money laundering (AML) laws, contributing to a total settlement of over $3 billion across multiple U.S. authorities.

TD admitted to willfully neglecting its AML program for over a decade, allowing trillions of dollars in potentially suspicious transactions to go unchecked annually.

Senator Elizabeth Warren criticized the Justice Department's decision not to charge the bank directly with money laundering and their choice to shift legal liability to TD's U.S. holding company.

Warren argued that by failing to prosecute high-level executives, the DOJ is allowing banks to simply factor enforcement fines into their cost of doing business rather than taking compliance seriously.

[22][25] Warren and Senator Ron Wyden requested that TD identify executives responsible for AML compliance failures.

[32] On August 22, 2019, TD announced its partnership with The Shed, the new arts center on Manhattan's Far West Side, as lead sponsor of the "Open Call" artist commissioning program.