In this week's Regulatory Wrap, we cover TD Bank's $3 billion fine for major anti-money laundering (AML) failures.

Here are the key talking points from the episode:

1. High-level staff, including the future AML officer, were aware of the issues, but failed to intervene.
2. The DOJ criticized TD Bank for severely underfunding its AML program.
3. This fine may set a precedent for tougher regulatory action across the banking industry.

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This week's Regulatory Wrap is brought to you by our Director of Regulatory Intelligence, Rob Mason.