"We’ve made the difficult decision to eliminate some roles that are no longer aligned with our business model," TD Bank said in a statement, adding "…We are committed to supporting impacted colleagues fairly, with respect and providing resources to assist with the transition," according to The Street.
Back in March, Newsweek reported that the decision to close these branches stems from a "$3 billion settlement with the U.S. Department of Justice over money-laundering violations."
TD Bank has been an established financial institution since 1919 though it didn't go through rapid growth until the 50s, according to its website. Though its shuttering some of its branch locations, the company itself is still in business and customers will still be able to do their banking through the institution. There are more than 1,100 branch locations across the United States.
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