TD Bank to Open 100 New US Branches by End of 2028 Amid Ongoing AML Remediation
Toronto Dominion Bank (NYSE: TD) plans to open approximately 100 new U.S. branches by the end of 2028, subject to regulatory approval. The expansion will focus on increasing branch density in major Northeast markets where it already has a strong presence and extending its footprint into Florida and the Carolinas. The bank is still working through anti-money laundering (AML) remediation efforts under an ongoing consent order with regulators. Fiscal 2026 AML-related costs have risen to $550 million, up from previous guidance of $500 million due in part to a look-back exercise and accelerated management actions. TD is also targeting C$750 million in structural cost savings for its U.S. business over the medium term while increasing AI usage across technology, AML monitoring, and customer service. The bank’s U.S. operations have returned to loan growth with a 3.47% third-quarter net interest margin.
Tickers: $TD
Topics: AML remediation cost savings expansion regulatory approval