Exact date and location TD Bank to close nearly 40 branches months after money laundering scandal
Dozens of TD Bank locations will close in June as the bank makes a 'difficult decision' just months after agreeing to pay a more than $3 billion penalty after pleading guilty to money laundering crimes
TD Bank is set to close nearly 40 locations this summer, just months after receiving a record-breaking anti-money laundering fine.
As one of the 10 largest banks in the US, TD Bank serves over 10 million retail, small business and commercial customers from Maine to Florida and has more than 1,000 branches across the country. But dozens of them will close next month as part of what the bank says is part of its normal business practices.
A TD Bank spokesperson says it regularly evaluates existing stores and told USA Today this "may result in some closures, consolidations, or relocations." The evaluations are focused on "customer needs and preferences," the spokesperson added.
"We are committed to making this transition as smooth as possible for our impacted customers and colleagues and look forward to serving them at one of our over 1000+ TD Bank locations or through our digital banking products and services," the spokesperson said.
When will TD Bank close branches?
A TD Bank spokesperson confirmed the company will close a total of 38 branches on June 5. The spokesperson noted that it had been a "difficult decision".
The closures will impact locations across 11 states, including Connecticut, the District of Columbia, Florida, Maine, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, South Carolina, and Virginia.
Full list of TD Bank branches closing on June 5
Connecticut
- North Branford Branch – 1289 Foxon Road, North Branford, New Haven County
- Torrington Commons – 215 High St, Torrington, Litchfield County
District of Columbia
- Georgetown – 1611 Wisconsin Avenue NW, Washington, D.C.
Florida
- Beville Nova – 1590 South Nova Road, Daytona Beach, Volusia County
- Main Blvd – 160 NW Main Blvd, Lake City, Columbia County
- South Beach 5th Street Branch – 500 Collins Avenue, Miami Beach, Miami-Dade County
Maine
- Fairfield – 112 Main St, Fairfield, Somerset County
- Fort Kent – 62 West Main, Fort Kent, Aroostook County
- Gorham Branch – 95 Main Street, Gorham, Cumberland County
- Houlton – 6 North St (PO Box 713), Houlton, Aroostook County
Massachusetts
- Bradford – 860 South Main St, Bradford, Essex County
- East Longmeadow – 465 North Main St, East Longmeadow, Hampden County
- Framingham Franklin Street – 420 Franklin St, Framingham, Middlesex County
- Holyoke – 50 Holyoke St, Holyoke, Hampden County
- Methuen Broadway – 547 Broadway, Methuen, Essex County
- Tewksbury 2345 Main Street – 2345 Main Street, Tewksbury, Middlesex County
New Hampshire
- Bristol NH – 10 North Main St, Bristol, Belknap County
- Contoocook/Main – 884 Main St, Contoocook, Hillsborough County
- Hampton – 40 High St, Hampton, Rockingham County
- Wilton Lyndeborough – 905 Elm St, Wilton, Hillsborough County
New Jersey
- Cedar Grove – 85-107 Pompton Avenue, Cedar Grove, Essex County
- Marlton East Branch – 191 E Route 70, Marlton, Burlington County
- Ringwood – 145 Skyline Drive, Ringwood, Passaic County
- Royal Road – One Royal Rd, Raritan Township, Hunterdon County
- Spring Lake Heights – 555 Warren Avenue, Spring Lake Heights, Monmouth County
New York
- 42nd and Madison Branch – 125 Park Avenue, New York, New York County
- 45th and Lexington Store – 451 Lexington Avenue, New York, New York County
- Dolson Avenue – 156A-B Dolson Avenue, Middletown, Orange County
- Downtown Branch – 136 Margaret Street, Plattsburgh, Clinton County
- Greenlawn – 460 Pulaski Road, Greenlawn, Suffolk County
Pennsylvania
- Chestnut Hill Branch – 8600 Germantown Pike, Philadelphia, Philadelphia County
- Frazer Branch – 101 Lancaster Avenue, Frazer, Chester County
- Morrisville Branch – West Trenton Ave & Carlisle Ave, Morrisville, Bucks County
South Carolina
- Columbia Main Branch – 1501 Main Street, Columbia, Richland County
- Thornblade Branch – 6 Elmshorn Drive, Greer, Greenville County
Virginia
- Centreville Branch – Centreville Drive and Machen Road, Centreville, Fairfax County
- Reston – 1750 North Hampton Avenue, Reston, Fairfax County
TD Bank's money laundering scandal
The closures come after TD Bank pleaded guilty to federal money laundering crimes last year. As a result, the lender agreed to pay more than $3 billion in penalties in what marked the biggest fine ever under anti-monetary laundering law.
The government said TD Bank ignored red flags from high-risk customers and created a "convenient" environment for bad actors to exploit, allowing drug cartels and other criminals to transfer hundreds of millions of dollars in illicit funds.
"TD Bank chose profits over compliance in order to keep its costs down," U.S. Attorney General Merrick Garland said at the time as he revealed TD Bank was the largest bank to admit to violating the Bank Secrecy Act.
The bank's new CEO Ray Chun pledged to "make the necessary changes to put the bank on a stronger foundation."
"This is TD's number-one priority, and my number one priority," Chun said during an October 2024 conference call. "Make no mistake, we will meet our commitments to our regulators ... we will get the job done."