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Источник: https://financialpost.com/news/fp-street/td-bank-boosts-payout-as-earnings-beat-street

Consumer Financial Protection Bureau Announces Are any td banks open today with TD Bank for Illegal Overdraft Practices

WASHINGTON, D.C. – The Consumer Financial Protection Bureau (Bureau) today announced a settlement with TD Bank, N.A. regarding its marketing and sale of its optional overdraft service: Debit Card Advance (DCA). TD Bank is headquartered in Cherry Hill, New Jersey, and operates about 1,250 locations throughout much of the eastern part of the country. The Bureau found that TD Bank’s overdraft enrollment practices violated the Electronic Fund Transfer Act (EFTA) and Regulation E by charging consumers overdraft fees for ATM and one-time debit card transactions without obtaining their affirmative consent, and that TD Bank engaged in deceptive and abusive acts or practices in violation of the Consumer Financial Protection Act of 2010 (CFPA). The Bureau also found that TD Bank engaged in practices prohibited by the Fair Credit Reporting Act (FCRA) and its implementing Regulation V. Today’s consent order requires TD Bank to provide an estimated $97 million in restitution to about 1.42 million consumers and to pay a civil money penalty of $25 million.

The Bureau specifically found that TD Bank charged consumers overdraft fees for ATM and one-time debit card transactions without obtaining their affirmative consent in violation of EFTA and Regulation E, both after new customers opened checking accounts at TD Bank branches and after new customers opened checking accounts at events held are any td banks open today of Bank branches.

The Bureau further found that when presenting DCA to new customers, TD Bank deceptively how much is tyra banks net worth DCA was a “free” service or benefit or that it was a “feature” or “package” that “comes with” new consumer-checking accounts. In fact, TD Bank charges customers $35 for each overdraft transaction paid through DCA and DCA is an optional service that does not come with a consumer-checking account. When TD Bank enrolled some consumers in DCA over the phone, TD Bank deceptively described DCA as covering transactions unlikely to be covered by DCA. In some instances, TD Bank engaged in abusive acts or practices by materially interfering with consumers’ ability to understand DCA’s terms and conditions. In some cases, TD Bank: required new customers to sign its overdraft notice with the “enrolled” option pre-checked without mentioning the DCA service to the consumer at all; enrolled new customers in DCA without requesting the customer’s oral enrollment decision; and deliberately obscured, or attempted to obscure, the overdraft notice to prevent a new customer’s review of their pre-marked “enrolled” status in DCA.

The Bureau also found that TD Bank violated FCRA and Regulation V by failing to establish and implement reasonable written policies and procedures concerning the accuracy and integrity of consumer-account information it furnished to two nationwide specialty consumer reporting agencies. The Bureau also found that TD Bank failed to conduct timely investigations of are any td banks open today consumer disputes concerning its furnishing to one of those specialty agencies.

To provide relief for consumers affected by TD Bank’s unlawful overdraft enrollment practices, the Bureau’s consent order requires TD Bank to provide an estimated $97 million in restitution to about 1.42 million consumers. TD Bank must also pay a civil money penalty of $25 million. The consent order also requires TD Bank to correct its DCA enrollment practices, stop using pre-marked overdraft notices to obtain a consumer’s affirmative consent to enroll in DCA, and adopt policies and procedures designed to ensure that TD Bank’s furnishing practices concerning nationwide specialty consumer reporting agencies comply with all applicable Federal consumer financial laws.

The consent order is available at: https://files.consumerfinance.gov/f/documents/cfpb_td-bank-na_consent-order_2020-08.pdf

###

The Consumer Financial Protection Bureau (CFPB) is a 21st century agency that helps consumer finance markets work by making rules more effective, by consistently and fairly enforcing those rules, and by empowering consumers to take more control over their economic lives. For more information, visitwww.consumerfinance.gov.

Источник: https://www.consumerfinance.gov/about-us/newsroom/cfpb-announces-settlement-td-bank-illegal-overdraft-practices/

Toronto-Dominion Bank

Banking and financial services corporation

The Toronto-Dominion Bank (French: Banque Toronto-Dominion) is a Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario. Commonly known as TD and operating as TD Bank Group (French: Groupe Banque TD), the bank was created on 1 February 1955, through the merger of the Bank of Toronto and The Dominion Bank, which were founded in 1855 and 1869, respectively. It is one of two Big Five banks founded in Toronto, the other being the Canadian Imperial Bank of Commerce. The Toronto-Dominion Bank swift code is TDOMCATTTOR and the TD institution number is 004.

In 2017, according to Standard & Poor's, TD Bank Group was the largest bank in Canada by total assets, the second largest by market capitalization, a top-10 bank in North America, and the 26th largest bank in the world.[7] In 2019, it was designated a global systemically important bank by the Financial Stability Board.

The bank and its subsidiaries have over 89,000 employees and over 26 million clients worldwide.[8] In Canada, the bank operates as TD Canada Trust and serves more than 11 million customers at over 1,091 branches. In the United States, the company operates as TD Bank, which was created through the merger of TD Banknorth and Commerce Bank. TD Bank serves more than 6.5 million customers in the United States with a network of over 1200 branches in sixteen states and the District of Columbia.[9]

History[edit]

The predecessors of the Toronto-Dominion Bank, the Bank of Toronto, and The Dominion Bank were established in the mid 19th century, the former in 1855 and the latter in 1869.[10] In 1954, an agreement was reached between the Bank of Toronto and The Dominion Bank to merge the two financial institutions. The merger was later accepted by the Canadian Minister of Finance on 1 November 1954, and was made official on 1 February 1955. The new institution adopted the name Toronto-Dominion Bank.[10]

In 1967, TD Bank opened its new head office, the Are any td banks open today Centre in downtown Toronto.[10] In the next year, the bank entered into a partnership with Chargex (later known as Visa Inc.).[10] The TD Bank shield logo was unveiled to the public near the end are any td banks open today the decade, in 1969.[10]

In 1976, TD Bank piloted its first automated teller machine (ATM), the TD 360, which was renamed The Green Machine, a name it continues to carry.[11]

In 1987, Toronto Dominion Securities Inc. was established by the bank.[10] TD Bank saw growth in the 1990s, with the acquisition of several financial assets including the commercial branches of Standard Chartered Bank of Canada. In 1992, the bank acquired the assets and branches of Central Guartanty Trust, as well as Waterhouse Investor Services in 1996.

In 1992, TD Bank and G4S Cash Solutions, a subsidiary of British security services company G4S plc, began a pilot project in Toronto that developed into a nationwide partnership in 1997. G4S Cash Solutions secured the contract to transport cash and provide first-line maintenance for the bank's ATMs – both cash dispensing and deposit pick up units." By 2010, the partnership had expanded where G4S Cash Solutions operated 2,577 ATMs, 1,093 branch night deposits, 95 weekly balanced cash dispensers as well as eight cash dispensers for branch tellers and 100 across the pavement services and hosted a discussion on the introduction of polymer banknotes in 2011 with leading Canadian financial institutions.[12]

TD Bank formed a partnership with Bank of Montreal (BMO) and Royal Bank of Canada (RBC) in 1996 to create Symcor, a private entity that offers transaction services such as item processing, statement processing and cash-management services to major banks and retail and telecommunications companies in Canada. In 2011, Symcor produces close to 675 million statements and more than two billion pages of customer statements, and processes three billion cheques annually.[13][14]

In 1998, TD Bank and the Canadian Imperial Bank of Commerce agreed to a merger. However, the Government of Canada, at the recommendation of then Minister of FinancePaul Martin, blocked the merger, as well as another proposed merger between the Bank of Montreal and the Royal Bank of Canada – believing it was not in the best interest of Canadians.[15]

In 2000, Toronto-Dominion Securities bought Newcrest Capital for $224 million (75 per cent in stock and 25 per cent in cash).[16] In the same year, TD Bank also acquired Canada Trust, re-branding most of its commercial banking operations in Canada as TD Canada Trust.

Ultimately Martin would approve the merger of TD and Canada Trust with some conditions. The new bank sold Canada Trust's MasterCard business to meet the demands of the Competition Bureau due to the fact that TD issued Visa cards at the time and Canada Trust issued MasterCard and competition rules at the time prevented a single institution from the duality of selling both brands simultaneously.[17] The Competition Bureau also forced the sale of 13 branches, representing over 120,000 customers, in three Ontario markets where the territory of TD and Canada Trust overlapped. The vast majority of the affected branches were in the Kitchener-Waterloo area, including four in Kitchener, two in Waterloo, four in Cambridge and one in Elmira. All but one branch were sold to the Bank of Montreal for $50-million. The remaining branch in Paris, Ontario was sold to Laurentian Bank of Canada. In all six TD branches and seven Canada Trust branches specifically changed hands to meet the Competition Bureau's requirements.[18]

In response, TD announced it would close are any td banks open today branches, representing 4,900 employees, to adhere to the ruling and to reduce overall costs. The Canadian Federation of Independent Business said the Competition Bureau's decision to ultimately approve the deal would reduce consumer choice while eliminating the chance to create a second-tier of Canadian banking by killing off the Trust industry in Canada.[19]

21st century[edit]

In 2002, TD Bank acquired Stafford Trading and Letco Trading. In the following year, TD Bank acquired Laurentian Bank's retail branches west of Quebec. walmart office furniture

In 2004, TD Bank entered the American retail banking market, announcing an agreement to acquire the majority stake of Banknorth, a New England based bank, for a total of US$3.8 billion.[20] Banknorth was later rebranded as TD Banknorth after the sale was finalized in March 2005.

In January 2006, the company sold its United States brokerage business branded as TD Waterhouse, which it had purchased in 1984, to Ameritrade. The business was renamed TD Ameritrade.

In April 2007, TD Bank acquired all remaining shares of TD Banknorth, transforming TD Banknorth into a fully owned subsidiary of TD Bank, and resulting in it being no longer traded on the New York Stock Exchange.[21] In the same year, TD Bank acquired Commerce Bancorp, a bank based in Cherry Hill, New Jersey. Commerce Bancorp was later merged with TD Banknorth to form TD Bank, N.A. in 2008.

In 2010, the bank acquired the Florida-based Riverside National Bank of Fort Pierce; and the South Financial Group Inc. In the following year, TD Bank acquired Chrysler Financial, which was later rebranded as TD Auto Finance.[22] On 1 December 2011, TD Bank acquired MBNA's Canadian credit card business.[23] In October 2014, Affiliated Computer Services, a subsidiary of Xerox, acquired Symcor's U.S. harvest org watch live from TD Bank.[24]

After Moody's Investor Service downgraded the credit worthiness of Royal Bank of Canada to Aa1 on 13 December 2010, TD Bank remained the only one of Canada's Big Five banks with a top Aaa credit rating at that point in the Great Recession (at the time, CIBC was Aa2, Scotiabank was Aa1 and Bank of Montreal was Aa2).[25] It is also ranked number 1 in the Top 1000 2012 listing.[26]

From 2014 to 2015, TD has gone through a minor restructuring which has included job cuts and other cost-cutting measures, under the leadership of Bharat Masrani, which has kept the stock price on a stable upward trend.[27]

In April 2020 it became apparent that TD Bank is a significant secured creditor involved in the voluntary administration of the Virgin Australia airline, which has debts of AUD$7 billion. The Virgin administrators declared TD Bank held an all present and after-acquired property charge over substantially the whole of the property of certain entities of the airline.[28]

Bloomberg reported that TD Bank, along with Canada's other large banks, added ESG measures to their chief executive officers' compensation plans.[29]

[edit]

A sign for TD Garden, a multi-sport venue in Boston. TD Bank has held the naming rights for the venue since 2005.

Toronto-Dominion Bank, and its subsidiaries, are title sponsors for a number of sporting venues in Canada, and the United States. TD Bank holds the naming rights to several multi-sport indoor arenas including TD Garden in Boston, Massachusetts. TD Banknorth acquired the naming rights for the Boston-based venue in 2005, with the venue being known as TD Banknorth Garden until 2007. After TD Banknorth was merged to form TD Bank, N.A., the venue's dropped Banknorth from the name and was branded as TD Garden.

Other indoor stadiums sponsored by TD Bank include TD Station in Saint John, New Brunswick; and TD Place Arena in Ottawa, Ontario. TD Place Arena forms a part of TD Place at Lansdowne Park. The bank also holds the naming rights to the outdoor stadium at TD Place, known as TD Place Stadium. Other outdoor stadiums sponsored by TD Bank include TD Stadium in London, Ontario and TD Ballpark in Dunedin, Florida.

Controversies[edit]

In 2010, a trader at Toronto Dominion Bank in the UK was fined £750,000 ($1.16 million[clarification needed]) by the Financial Services Authority for intentionally mismarking his trading positions.[30]

News outlets reported the bank's policy regarding ordinary Iranian-Canadian citizens, July 10, 2012.[31] Some one hundred personal bank accounts had been closed to this date, citing the recent ambiguous Special Economic Measure Regulation of the Canadian government. A family in Vancouver was forced to refinance a $250,000 house mortgage in 60 days to avoid foreclosure.[31]

A TD Bank document became the focus of a 2012 contempt hearing in Miami federal court. In a civil lawsuit against TD Bank, a jury found the bank liable for aiding alleged Ponzi schemer Scott Rothstein's $1.4 billion fraud.[32]

In 2015, the Canadian news website the Halifax Examiner reported that a Political action committee (PAC) established by TD Bank had donated over $50,000 to the campaigns of anti-LGBT rights politicians in the United States.[33] The article suggested that this was problematic given TD Bank's status as a sponsor of 41 LGBT Pride events across North America; TD Bank made no comment. In response to this article, on October 6, 2015, a motion was brought mycreditcard unionbank the Annual General Meeting of Halifax Pride to sever ties with TD Bank if it did not provide a satisfactory response to the concerns; the motion was ultimately are any td banks open today March 10, 2017, the Canadian Broadcasting Corporation's (CBC) news programme Go Public reported that TD Bank employees had admitted that, under pressure to achieve sale's targets, they had increased customers' lines of credit, overdraft amounts, and Visa credit limits without advising them which is against the law. One TD financial adviser says she "invested clients' savings into funds which were not suitable, because of the SR [sales revenue] pressure". Another admitted downplaying the risk of products saying: "I was forced to lie to customers, just to meet the sales revenue targets." In an internal letter to employees, Andy Pilkington, executive vice-president of branch banking, wrote: "We don't believe the [CBC] story is an accurate portrayal of our culture," but the report provided an opportunity "to pause, reflect and ask ourselves . how we can do better for our people and our customers."[35] The bank's stock lost 5.55% of its value on March 10, declining by $3.88 (Cdn) per share to close at $66.00 (Cdn).[36]

Following his ended relationship to private-banking with JPMorgan, which was headed by his friend Jes Staley, and his relationships later for over 20 years through Thomas Bowers at The Citi Private Bank and subsequently the Thomas Bowers headed private wealth management division of Deutsche Bank from 2013 until early 2019,[note 2]Jeffrey Epstein established a close relationship during 2019, allegedly through Darren Indyke, with wealth management and private banking at TD Bank which was Epstein's bank while he was under investigations in the United States, Brazil and France at the time of his death in August 2019.[38][39][40][41][42][43]

Notes[edit]

  1. ^The Toronto-Dominion Bank was a result of a merger between the Bank of Toronto and The Dominion Bank, finalized in 1955. The Bank of Toronto was established in 1855, whereas The Dominion Bank was established in 1869.
  2. ^Thomas Bowers left Deutsche Bank in 2015 to be Chief Operating Officer (COO) at Starwood Capital Group and in 2016 was a director on the board at Opus Bank.[37]

References[edit]

  1. ^"Historical Fast Facts". td.com. Toronto-Dominion Bank. Retrieved 13 December 2019.
  2. ^"TD Bank Corporate History". td.com. Toronto-Dominion Bank. Retrieved 13 December 2019.
  3. ^Canadian company histories. 1. Gale Canada. 1996. p. 261. ISBN .
  4. ^ ab"2014 Financial Statements and Notes"(PDF). TD Bank. 4 December 2013. Retrieved 2014-04-24.
  5. ^"Corporate Information"(PDF). TD Bank Financial Group. Retrieved 18 October 2017.
  6. ^"TD Bank: Company Information"(PDF).
  7. ^Mehmood, JahanZaib (11 April 2017). "The world's 100 largest banks". S&P Global. Retrieved April 9, 2018.
  8. ^"Corporate Information". TD Bank. Retrieved 2015-08-07.
  9. ^"About Us". TD Bank. Retrieved 2013-03-21.
  10. ^ abcdef"Our Roots". TD Bank Corporate. Toronto-Dominion Bank. 2019. Retrieved 3 September 2019.
  11. ^"Historical Fast Facts". TD.com. Retrieved March 11, 2020.
  12. ^Stemman, Roy, ed. (November 2010). "Nationwide cash service for world's second largest country". Value Solutions. Essex, UK: G4S. Archived from the original on 2015-05-07.
  13. ^"Who We Are". Symcor. Archived from the original on 2013-03-15. Retrieved 2013-03-21.
  14. ^Critchley, Huntington bank madison ohio hours (4 April 2011). "Bank-owned Symcor misses on timing". National Post.
  15. ^Pound, Richard W. (2006). Fitzhenry and Whiteside Book of Canadian Facts and Dates. Fitzhenry and Whiteside. ISBN .
  16. ^"TD Securities buys Newcrest Capital". CBC News. 7 November 2000.
  17. ^Chase, Steven (8 May 2000). "TD sells 13 retail branches". The Globe and Mail.
  18. ^Chase, Steven (8 May 2000). "TD sells 13 retail branches". The Globe and Mail.
  19. ^https://www.cbc.ca/news/canada/td-takeover-of-canada-trust-good-news-for-clients-bank-says-1.198875
  20. ^"TD Bank buying majority stake in Banknorth for $3.8B US". CBC News. Canadian Broadcasting Corporation. 26 August 2004. Retrieved 3 September 2019.
  21. ^"Frequently Asked Questions: TD Banknorth". Toronto-Dominion Bank. 2019. Retrieved 3 September 2019.
  22. ^Blumenthal, Jeff (1 April 2011). "TD Bank Financial completes purchase of Chrysler Financial". Philadelphia Business Journal. Retrieved 2013-03-21.
  23. ^"TD buys MBNA's Canadian credit card business". CBC News. 15 August 2011. Retrieved 2013-03-21.
  24. ^"Who We Are". Xerox. October 4, 2012. Archived from the original on January 16, 2014. Retrieved 2014-01-14.
  25. ^Robertson, Grant; Perkins, Tara (13 December 2010). "RBC, Manulife hit by ratings downgrades". The Globe and Mail. Toronto.
  26. ^"Top 1000 list". Report on Business. 28 June 2012. Retrieved 2013-03-21.
  27. ^Trichur, Rita; Dummett, Ben (12 February 2015). "TD Bank Reviewing Costs; More Layoffs Possible". The Wall St. Journal. Dow Jones & Company. Retrieved 2 December 2019.
  28. ^"Deloitte"(PDF).
  29. ^Orland, Kevin (2021-03-18). "CEO Pay Tied to ESG Sets Canadian Banks Apart From the Crowd - BNN Bloomberg". BNN. Retrieved 2021-03-18.
  30. ^Muñoz, David Enrich, Cassell Bryan-Low and Sara Schaefer (September 22, 2011). "U.K. Sets Its Sights on 'Rogue' Traders". The Wall Street Journal.
  31. ^ abKane, Laura (12 July 2012). "Iranian-Canadians furious over closure of TD Bank accounts". Toronto Star. Retrieved 2015-10-07.
  32. ^"Controversial TD Bank form was clear on flagging fraud". South Florida Business Journal. 25 May 2012. Retrieved 2014-01-13.
  33. ^Ward, Jesse (24 July 2014). "TD Bank: sponsoring Pride and politicians who are against marriage equality". Halifax Examiner. Retrieved 2015-10-07.
  34. ^"Halifax Pride 2015 AGM Summary". Halifax Pride. 6 October 2015. Retrieved 2015-10-07.
  35. ^Johnson, Erica (March 10, 2017). "'We do it because our jobs are at stake': TD bank employees admit to breaking the law for fear of being fired". CBC News. Retrieved April 9, 2018.
  36. ^"Toronto Dominion Bank". The Globe and Mail. Retrieved March 10, 2017.
  37. ^Former Deutsche Bank Exec Connected to Trump Loans Dies by Suicide in Malibu
  38. ^TD Bank took Epstein money after Deutsche Bank kicked him out
  39. ^"Jeffrey Epstein's Private Banker at Deutsche & Citi Found Swinging From a Rope:; Executive 'Suicide' Before FBI Could Question Him". 3 December 2019. Archived from the original on 2019-12-04. Retrieved 2019-12-04.
  40. ^"The Epstein Connection: Follow The Money". 5 December 2019. Archived from the original on 2021-04-24. Retrieved 2021-04-24.
  41. ^Pagones, Stephanie (2020-07-07). "Deutsche Bank penalized $150M for Jeffrey Epstein relationship". FOXBusiness. Retrieved 2021-07-19.
  42. ^Byrne, Paul; Allen, Peter (September 2019). "Jeffrey Epstein's 'fixer' who ran major modelling agency vanishes 'like a ghost'". Mirror. Archived from the original on 2020-06-11. Retrieved 2020-06-11.
  43. ^"TD sample cheque: everything you need to know". Retrieved 2021-06-15.

Bibliography[edit]

  • Schull, Joseph, 100 years of banking in Canada: a history of the Toronto-Dominion Bank illustrated by Brad Smith. Vancouver: Copp Clark, c1958. ix, 222 p.: ill.; 24 cm.

External links[edit]

Источник: https://en.wikipedia.org/wiki/Toronto-Dominion_Bank
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CONNECTICUT — TD Bank plans to trim its Connecticut branch roster by a half-dozen in the spring.

The bank said in a statement Wednesday the decision is part of a "larger plan for the future."

The doomed branches are in these communities:

Find out what's happening in Across Connecticut with free, real-time updates from Patch.

  • Hartford, 2035 Broad St.
  • Middlebury, Middlebury Road
  • Winsted, 200 New Hartford Road
  • New Canaan, 272 Elm St.
  • West Haven, 636 Campbell Ave.
  • Woodbridge, 128 Amity Road

TD Bank said it considered many factors in the closure decision:

  • The number of customers visiting the branches
  • Transaction volumes
  • The locations' proximity to other TD Bank branches
  • The number of customers who use multiple locations

The last factor certainly applies to Hartford, where there is also a branch on Trumbull Street. A staffer at the Broad Street branch said there is an April 23 target date for the closures.

Find out what's happening in Across Connecticut with free, real-time updates from Patch.

After the closings, TD Bank's Connecticut presence in terms of branches will include:

  • Avon (1)
  • Berlin (1)
  • Branford (1)
  • Bridgeport (3)
  • Bristol (1)
  • Cheshire (1)
  • Darien (1)
  • East Hartford (1)
  • Fairfield (2)
  • Glastonbury (2)
  • Greenwich (1)
  • Handen (1)
  • Hartford (1)
  • Killingworth (1)
  • Manchester (1)
  • Mansfield (1)
  • Meriden (2)
  • Middletown (1)
  • Milford (1)
  • New Britain (2)
  • Newington (1)
  • Plainville (1)
  • Southington (3)
  • Stamford (1)
  • Torrington (1)
  • Wallingford (2)
  • Waterbury (3)
  • Watertown (1)
  • West Hartford (2)
  • Westport (1)
  • Woodbridge (1)
  • Woodbury (1)

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Источник: https://patch.com/connecticut/across-ct/td-bank-close-6-connecticut-locations

Does TD Bank Offer Free Coin Counting Machines?

TD Bank, NYC

TD Bank, coined as America's Most Convenient Bank, does not provide coin-counting machine to customers.

Previously, the bank was popular because it did offer the "Penny Arcade" coin-counting service, but it has been suspended due to reports that it was shortchanging users.

If you need to deposit a large number of coins, find out where you can still do so:

How TD Bank Customers Can Deposit Coins

In order to deposit coins, TD Bank customers will have to use coin wrappers. These wrappers are available for free by visiting a TD Bank branch.

Tip: Most banks will give you free coin wrappers.

Customers have to wrap their coins at home before bringing them in for deposit.

This is the standard procedure adopted by most other banks that don't offer coin-counting machines.

Where You Can Still Find Coin Counters

Although TD Bank doesn't offer coin-counting machines, other banks may provide them.

However, you'll most likely have to pay a fee (a small percentage of the amount counted) if you're a non-customer. Some banks won't even let you use the machines as a non-customer.

Coinstar for gift cards and donations

Coinstar, a third-party company, has coin-counting machines at supermarkets.

However, it does come with an expensive 11.9% fee when the coins are converted into cash.

Stores With Coinstar Coin Counter Machines

Stores
Wal-Mart
Winn Dixie
Food 4 Less
Vons
Ralphs
ShopRite
The Food Emporium
Safeway
Acme
Kroger
Jewel

Luckily, you can avoid the fee because Coinstar also allows you to exchange your coins for gift cards and charitable donations without any fee.

Coinstar Redemption

Coin exchange optionFeeHow it works
Cash voucher10.9%Turn in the cash voucher to a cashier
eGift CardNoneGift code is printed on the receipt
Charitable donationNoneDonation is automatically made -- with a receipt for tax purposes

History of TD Bank Penny Arcade Machines

In 2008, Canadian-based TD Bank acquired Commerce Bank and since then has kept most perks, such as being open 7 days a week, allowing dogs and offering dog treats.

The Penny Arcade machine was a coin-counter that allowed anyone (even non-customers) to count their coins.

Users were allowed to guess the total value of the coins.

If guessed within a certain range of the correct amount, users would collect a small prize when they took the receipt to a TD Bank teller.

Meanwhile, users could cash out the coins or have them deposited into a TD account.

In November 2015, TD Bank started charging non-customers to use the machine. An interesting decision by TD, as the service drove over 6 million non-customers a year to TD branches.

Mixed response to the fee changes

If you are like us, you know counting change can be annoying. This is why TD Banks decision to begin charging non-customers is kind of a bummer.

The service, which was free-for-all, started to come with a 6% fee for those who don’t have a TD account.

One comment read: “I am a customer of TD and it never made sense to me that non-customers received the same convenience at no cost to them.

If they want the service for free then they should bank with them. I am sure their bank doesn't provide free coin counting.

TD is a fantastic bank and not a non-profit and the bottom line is coin-counting machines and the processing of the coin is expensive! All you have to do is be a customer!”

While this move to charge have upset non-customers who use the service every year, TD Bank felt is was the best decision for their current customers.

When asked why the change was made, a spokesperson for the bank indicated that a number of customers and employees were complaining that non-customers who use the machine were negatively impacting the service (Source: American Banker).

Penny Arcade machines removed entirely

TD removed the coin-counting machines from all branches in May 2016 because customers were complaining that they were being shortchanged.

Allegedly, the machines counted coins inaccurately. Customers counted the coins before putting them through the machine and discovered that it was consistently recognizing less money than it should.

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Источник: https://www.mybanktracker.com
365 Bloor Street East, Toronto, Ontario, M4W 3L4

TD Bank boosts payout as earnings beat Street

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Dividend going up 5%, though profit takes hit from insurance charges are any td banks open today this summer's severe flooding

Author of the article:

The Canadian Press

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TORONTO — Toronto-Dominion Bank has reported a big drop in earnings for the third quarter as “very strong performances” in many of its banking sectors were offset by losses on the insurance side.

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The results missed analyst expectations on revenue but beat on earnings per share and Canada’s second-largest bank boosted its quarterly dividend by four cents, or 5%, to 85 cents per share.

TD said net income in the quarter was $1.53 billion or $1.58 per diluted share on revenue of $5.95 billion. That compared with $1.7 billion or $1.78 per share on $5.84 billion of revenue in the year-earlier period.

Adjusted diluted earnings were $1.59 billion or $1.65 per share, down 13% from $1.82 billion or $1.91 per share in the same 2012 period.

Analysts on average expected $1.55 in adjusted earnings per share on revenue of $5.99 billion, according to a survey by Thomson Reuters.

The earnings figures included charges of $24 million relating to the acquisition of the credit card portfolio of MBNA Canada and a loss of $48 million after tax due to the impact of the Alberta flood on the loan portfolio.

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TD’s personal and commercial banking section posted reported adjusted net income of $997 million in the third quarter, up 12% compared to a year ago. The bank says this reflected continued good loan and deposit volume growth, favourable credit performance and effective expense management.

TD Insurance posted a third quarter loss of $243 million after tax, the result of charges of approximately $418 million after tax from a combination of severe weather-related impacts and increased general insurance claims.

The wealth and insurance division delivered net income of $7 million for the quarter, compared to $360 million in the are any td banks open today quarter last year. Higher earnings from wealth and TD Ameritrade were largely offset by losses in the insurance business.

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“Our results this quarter demonstrate the strength of our diversified business model, as evidenced by very strong results in a number of businesses, the dividend increase announced today, and our higher capital ratio,” said president and CEO Ed Clark.

“For the remainder of the year, we will continue to manage expense growth while strategically investing in our businesses. I’m confident we have the right strategy, brand and team to deliver on our vision to be The Better Bank.”

Last month, TD Bank gave investors advance notice that it expected to book an after-tax loss of between $240 million to $290 million in the quarter as it recognized claims associated with recent severe flooding in Alberta and the Toronto area.

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The bank also recently secured an agreement with Aeroplan rewards card operator Aimia Inc. that will see it become the lead partner in credit cards, taking over for longtime partner CIBC.

Some of the details of the new agreement haven’t been etched out, which means that CIBC could still retain at least part of its existing Aerogold customers who have other products with the bank, such as chequing accounts and mortgages.

TD Bank is one of North America’s largest retail banks, with operations across Canada and in several parts of New England and the U.S. northeastern and mid-Atlantic states.

Last fall, the bank announced it was acquiring the U.S. credit card portfolio of Target Corp. under a seven-year agreement. The portfolio has about five million active accounts under both Visa and private-label brands.

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