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TD a ‘ways off’ from being an attractive investment following charges: portfolio manager

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One portfolio manager says Toronto Dominion Bank is still far away from being an attractive investment opportunity after the lender pleaded guilty to failing to prevent money laundering by criminals in the U.S.

Grant White, portfolio manager, discusses TD bank's guilty plea in a U.S. money-laundering case totalling US$3.1B in penalties.

Grant White, an investment advisor and portfolio manager at IA Private Wealth, said in an interview with BNN Bloomberg Thursday that he has concerns about TD as a stock pick. Speaking to the anti-money laundering charges, White said that it’s “put a lot of red tape around growth” and the lender will now face far greater compliance and regulatory oversight.

 

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