![]() ^ "Nordstrom Sells Credit Card Assets, Rewards Shareholders"."Nordstrom sells credit-card portfolio to Canadian bank". ^ TD Financial buys South Carolina's South Financial Group.Many cases of financial penalties against the company do feature mitigating factors including accidental human error at branches due to customers presenting fraudulent information however, the company has been assessed penalties in excess of $197 million since the year 2000 for consumer, banking, investor protection, wage and privacy violations. The lawsuit estimates that 26 cents out of every $100 was not counted, totaling to $9 million. In 2016, the bank was sued for allegations that their coin counting machines, "Penny Arcades," were inaccurately counting coins. As of July 3, 2017, all but one of the claims were dismissed by Judge Jerome B. The lawsuit alleged the bank called consumers up to 10 times per day. In October 2015, a class action lawsuit was filed against TD Bank claiming that it violated the Telephone Consumer Protection Act of 1991. The bank waited more than six months to notify customers. After an inquiry by the attorney general, it stated 267,000 customers. In October 2012, the Massachusetts attorney general announced that TD Bank misplaced unencrypted backup tapes with "extensive customer information, including Social Security numbers and bank account numbers." The bank initially refused to state how many customers were affected. Legal actions and public controversies 2012 data breach ![]() The deal was expected to close in 2023, but was scrapped in May 2023. announced plans to acquire Memphis, Tennessee-based First Horizon Corporation for US$13.4 billion. ![]() TD Bank's branch footprint after the South Financial merger Salom’s role change became effective Jan. Salom had been leading TD’s wealth management and insurance business. announced Leo Salom would succeed Greg Braca as the bank’s U.S. The acquisition added Nordstrom to TD's growing folio of private-label cards that includes Target, NordicTrack, and Tourneau. In February 2016, TD Bank's consumer card division purchased the Nordstrom credit card unit for $2.2 billion. centralized its American headquarters in Cherry Hill, New Jersey, U.S. South Financial's branches were converted to the TD Bank name. South Financial was the parent company of Carolina First, with branch locations in North and South Carolina and Mercantile Bank, with branch locations in Florida, for about $191 million. acquired the South Financial Group and its 172 branches across the Carolinas and Florida. On May 31, 2008, TD Bank Group acquired Commerce Bank, and merged it with TD Banknorth to form TD Bank, N.A., what is now the United States subsidiary of its Canadian parent company. ![]() The Canada-based TD Bank Group then became majority owner in 2004 and renamed it "TD Banknorth, N.A." by adding the Canadian bank's popular "TD" initials. It is a successor to the Portland Savings Bank, which later became Banknorth after a series of mergers with various other New England banks. History TD Bank branch in Chinatown, Washington, D.C. TD Bank is a federally chartered bank, thus its trading name bears "N.A." letters. is headquartered in Cherry Hill, New Jersey, a proximal suburb eight miles (13 km) outside Philadelphia. bank by deposits and the 11th largest bank in the United States by total assets, resulting from a series of several mergers and acquisitions. It operates primarily across the East Coast, in fifteen U.S. is an American national bank and the United States subsidiary of the multinational TD Bank Group.
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