TD pleads guilty to money laundering and is fined $3 billion by DOJ

TD Bank will pay nearly $3.1 billion in fines and other penalties and face a cap on its U.S. retail banking assets after pleading guilty to failing to prevent money laundering by drug cartels and others. Bloomberg’s Jenny Surane details analysts’ and investors’ fears that the asset cap could hamper the bank’s growth-through-acquisition strategy. Surane speaks with Kriti Gupta about ‘Bloomberg: The Opening Trade’. (Source: Bloomberg)