TD Bank Monitorship Said to Continue After Trump DOJ Review

The Trump administration will continue to require Toronto-Dominion Bank to retain an independent monitor as part of a $3.1 billion settlement with the US over failures to prevent money laundering, according to people familiar with the matter.

The move comes as the Justice Department undertakes a review of corporate compliance monitorships as part of a broader evaluation of Biden administration actions, Bloomberg News reported earlier.

The DOJ paused ongoing monitorships as part of the review, but the TD Bank monitor has since been cleared to continue, the people said.

The Justice Department and TD Bank declined to comment.

TD Bank’s ...