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The Toronto-Dominion Bank - TD STOCK NEWS

Welcome to our dedicated page for The Toronto-Dominion Bank news (Ticker: TD), a resource for investors and traders seeking the latest updates and insights on The Toronto-Dominion Bank stock.

Toronto-Dominion Bank (TD Bank Group) is a prominent Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario. Formed on February 1, 1955, through the merger of the Bank of Toronto and The Dominion Bank, TD has a rich history dating back to 1855 and 1869. As one of Canada's leading banks, TD operates in three main business segments: Canadian retail banking, U.S. retail banking, and wholesale banking.

TD's extensive U.S. operations stretch from Maine to Florida, with a notable presence in the Northeast, serving over 10 million customers across more than 1,100 locations. The bank also holds a 13% ownership stake in Charles Schwab, enhancing its influence in the financial sector.

Recent achievements highlight TD's innovative and customer-centric approach. For instance, TD Bank's Retail Card Services business recently announced a multi-year financing agreement with Rare Carat, an online retailer specializing in diamonds and engagement rings. This partnership aims to provide customers with customized financing solutions, reflecting TD's commitment to offering value and flexibility.

TD's dedication to digital advancement is evident in its data-access agreement with Plaid, enabling customers to securely connect to over 8,000 apps and services. This initiative demonstrates TD's focus on enhancing customer experience through secure and convenient digital solutions.

Innovation is a cornerstone of TD's operations. The bank's patent inventors have expanded their portfolio to over 2,500 filings, with a significant portion related to AI innovation. TD's internal ideation program, iD8, encourages employees to contribute ideas, fostering a culture of continuous improvement.

TD operates several key businesses globally, including Canadian Personal and Commercial Banking, U.S. Retail, Wealth Management and Insurance, and Wholesale Banking. With assets totaling $1.96 trillion as of October 31, 2023, TD ranks among the world's leading online financial services firms, with over 17 million active online and mobile customers.

TD's strategic focus on digital innovation, customer experience, and sustainable growth positions it as a formidable player in the global banking industry. The Toronto-Dominion Bank trades under the symbol 'TD' on the Toronto and New York Stock Exchanges, reflecting its significant presence in the financial markets.

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TD Bank has been recognized as a 'Best Place to Work for Disability Inclusion' for the 10th consecutive year, earning a top score of 100 on the 2024 Disability Equality Index®. This achievement reflects TD's long-standing commitment to advancing diversity, equity, and inclusion.

Key highlights include:

  • TD ranked No. 9 on Forbes' 2024 list of America's Best Employers for Diversity
  • Recognized by Fair360 as a Top 50 Company for workplace fairness
  • Hosts Project SEARCH, helping students with disabilities transition into the workplace
  • Collaborates with Specialisterne to increase representation of neurodivergent individuals
  • Launched the TD Accessibility Adapter, a free browser plug-in for personalized online experiences
  • Raised over $12 million for Special Olympics since 2009

These initiatives underscore TD's dedication to fostering an inclusive environment for colleagues, customers, and communities.

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TD Bank has launched a $20 billion Community Impact Plan aimed at empowering diverse and underserved communities through lending, philanthropy, and banking access over the next three years. Integral to this initiative is the creation of a Community Advisory Board consisting of leaders with vast experience in areas like community development, education, and financial services.

The board members include Seema Agnani, Dr. Tony Allen, Marla Bilonick, Anthony Carter, Brian Harris, Dr. Kimberlyn Leary, Dr. Tonya Matthews, Marc Morial, Michael T. Pugh, Marietta Rodriguez, and Jesse Van Tol. The board will convene on October 29 to provide actionable recommendations and ensure the plan meets local needs. According to TD Bank's CEO Leo Salom, this initiative underscores the bank's commitment to financial inclusion, sustainable growth, and social progress.

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A recent TD Bank survey reveals that 67% of homeowners believe purchasing a home is still attainable, with 38% likely to buy within the next year, despite rising costs and interest rates. The 2024 Mortgage Service Index surveyed over 1,800 homeowners, showing optimism, particularly among Gen Z (84%) and Millennials (68%). However, rising costs are impacting personal finances, with 70% struggling to save or budget. Additionally, homeowners are increasingly planning renovations over moving, with 73% intending to renovate in the future. Interestingly, many are opting for lower down payments, especially Gen Z (80%) and Millennials (77%). Although homebuying stress is high, at 71%, education and professional advice are seen as key to navigating the process.

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TD Bank has launched the Chosen First Name feature, allowing customers to use a preferred first name different from their legal name on online accounts and cards. This feature, available through TD's Odyssey platform, aims to create an inclusive banking experience, particularly for LGBTQ2+ individuals and diverse communities. Recognized as a leader in LGBTQ+ workplace inclusion, TD Bank continues to enhance its commitment to diversity and innovation. Customers can update their chosen first names at any TD store in the U.S., making their experience more personalized and respectful.

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On May 16, 2024, TD Bank Group (TD) announced a significant expansion of its North American patent inventor base, growing over 40% in three years to exceed 1,000 colleagues. This growth has driven TD's patent portfolio to over 2,500 filings, up by more than 110% since 2020, with one-fifth of these patents related to AI innovation. TD now ranks as the top Canadian financial institution for patent filings and among the top three companies overall in Canada.

TD's innovation initiatives, particularly through its TD Invent program, have fostered a culture of colleague-led innovation. The iD8 program within TD Invent crowdsourced over 18,000 ideas last year, while the Elite Inventor Program recognizes top inventors, some with over 100 patents. TD's efforts also extend to supporting clean technology, health technology, and sustainability through initiatives like the Patents for Startups program and the Low Carbon Patent Pledge.

The announcement was made during TD Tech and Innovation Day, emphasizing 'Human-Centered Innovation.' This approach focuses on the impact of TD's innovations on customers, colleagues, and communities.

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TD Charitable Foundation, the charitable wing of TD Bank, has awarded $7 million in grants to 37 non-profits through its 2024 Housing for Everyone grant program. This initiative aims to support independent living solutions for marginalized communities from Maine to Florida, including Michigan. The grants range from $150,000 to $250,000 and will target housing solutions like rapid re-housing, permanent supportive housing, and transitional housing. The program addresses the ongoing affordable housing crisis, especially for those facing homelessness or financial insecurity. Since 2005, the foundation has awarded over $49 million to support more than 550 housing initiatives.

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The 2024 Small Business Survey by TD Bank reveals that 90% of small business owners are optimistic about the future of their businesses, up from 80% in 2023. The survey indicates positive outlooks on revenue growth, expansion opportunities, and low intentions of closures or layoffs. Despite concerns about inflation and economic pressures, SBOs are confident in maintaining and growing their businesses with the support of trusted financial institutions.

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TD Bank appoints Matthew Boss as Head of U.S. Consumer Banking, highlighting his strong leadership and strategic vision to drive growth and innovation in various banking segments.
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TD becomes the Official Bank of Cricket Canada, marking a significant milestone in Canadian cricket history. The sponsorship aims to support the growth and development of cricket locally, with TD becoming the official bank of Cricket Canada’s National Teams and helping to enhance grassroots development programs and access for young fans and players.
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TD Bank introduces TD Complete Checking and TD Early Pay, offering customers simplified banking experiences and early access to direct deposits. The new products aim to provide greater value, flexibility, and control to customers.
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FAQ

What is Toronto-Dominion Bank (TD)?

Toronto-Dominion Bank (TD) is a Canadian multinational banking and financial services corporation headquartered in Toronto, Ontario.

When was TD Bank formed?

TD Bank was formed on February 1, 1955, through the merger of the Bank of Toronto and The Dominion Bank.

What are the main business segments of TD?

TD operates in three main business segments: Canadian retail banking, U.S. retail banking, and wholesale banking.

Where does TD have operations in the United States?

TD has operations spanning from Maine to Florida, with a strong presence in the Northeast.

What recent partnership has TD Bank entered?

TD Bank recently announced a multi-year financing agreement with Rare Carat, an online retailer specializing in diamonds and engagement rings.

How does TD enhance digital security for its customers?

TD has entered a data-access agreement with Plaid to enable more secure and private data sharing, eliminating the need for customers to share login credentials with third parties.

What is TD's approach to innovation?

TD fosters innovation through programs like TD Invent and iD8, encouraging employee contributions and focusing on AI and digital advancements.

How many active online and mobile customers does TD have?

TD has more than 17 million active online and mobile customers.

What is TD's asset size?

As of October 31, 2023, TD had $1.96 trillion in assets.

On which stock exchanges is TD listed?

TD is listed on the Toronto and New York Stock Exchanges under the symbol 'TD'.

The Toronto-Dominion Bank

NYSE:TD

TD Rankings

TD Stock Data

102.41B
1.76B
0.11%
60.31%
0.99%
Commercial Banking
Finance and Insurance
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United States of America
Toronto