TD Bank pleaded guilty to multiple criminal charges and will pay $3 billion in penalties for failing to monitor money laundering by criminals, including drug traffickers. The settlement with the Department of Justice and financial regulators includes limits on the bank’s U.S. growth, capping its assets at $434 billion. Attorney General Merrick Garland emphasized the bank's complicity, citing that it allowed over $670 million in illegal funds to flow through its accounts. The DOJ continues to investigate the case, with further prosecutions expected.