TD Bank to pay $3B in historic money-laundering settlement with the Justice Department 

Updated at 3:20 p.m. on Oct. 10.

ATTORNEY GENERAL Merrick Garland speaks during a news conference to announce that TD Bank will pay an approximately $3 billion settlement after authorities say the financial institution's lax practices allowed for significant money laundering, at the Department of Justice, Thursday in Washington. /ASSOCIATED PRESS FILE PHOTO/ MARK SCHIEFELBEIN

WASHINGTON (AP) – TD Bank will pay approximately $3 billion in a historic settlement with U.S. authorities who said Thursday that the financial institution’s lax practices allowed significant money laundering over multiple years.  Toronto-based TD Bank, which has nine branches in Rhode Island and is the state’s eighth largest bank in terms of deposits as of

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