TD Bank (TD) Group posted a huge loss of $181 million (C$) loss due to $2.6 billion provision for expected fines for US money laundering investigations. This figure could be pared back in the future once the fines are all added up but this is the first loss since 2003 for TD Bank Group. Part of the loss came as a result of its insurance business that saw claims jumped. I am aware of the losses as my home was insured with TD and the premium doubled for 2024. Naturally I moved elsewhere as there is little point in paying for TD’s own mistakes in how they handle their insurance business.
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The rest of this Canadian Stocks trade alert and ideas article is for FullyInformed Members.
The rest of this trade alert and ideas article is for FullyInformed Members
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Disclaimer: There are risks involved in all investment strategies and investors can and do lose capital. Trade at your own risk. Stocks, options and investing are risky and can result in considerable losses. None of the strategies, stocks or information discussed and presented are financial or trading advice or recommendations. Everything presented and discussed are the author’s own trade ideas and opinions which the author may or may not enter into. The author assumes no liability for topics, ideas, errors, omissions, content and external links and trades done or not done. The author may or may not enter the trades mentioned. Some positions in mentioned stocks may already be held or are being adjusted.
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