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The Toronto-Dominion Bank reports developments across a North American banking franchise that includes Canadian personal and commercial banking, U.S. retail banking, wealth management and insurance, and wholesale banking. News about TD commonly covers U.S. retail operations under TD Bank, digital and embedded banking capabilities for business clients, credit card rewards, auto finance, private banking and wealth services.
Company updates also address brand and operating-model changes across Canada and the United States, regional leadership and market alignment in the U.S. footprint, community sponsorships, and consumer spending research. TD trades on the Toronto and New York stock exchanges under the symbol TD.
TD Auto Finance (NYSE:TD), a division of TD Bank, has achieved the highest ranking in Dealer Satisfaction among National Non-Captive Prime Credit Lenders in the J.D. Power 2025 U.S. Dealer Financing Satisfaction Study for the sixth consecutive year.
The company scored 864 out of 1,000 points, outperforming the segment average by 84 points. TD Auto Finance excelled in three key areas: Funding Process, Finance Provider Offerings, and E-Contracting Process. The company serves over 1.1 million consumers and 6,600 franchised dealerships across the U.S., ranking as the 8th largest bank auto lender and 12th largest overall auto lender in the U.S. market.
[ "Achieved highest dealer satisfaction ranking for 6th consecutive year", "Scored 864/1000, beating segment average by 84 points", "Ranked highest in 3 out of 5 measured factors", "Services over 1.1 million consumers and 6,600 dealerships" ]TD Bank (NYSE:TD) has appointed Chris Ward as the new Head of U.S. Small Business Banking. Ward, who joined TD Bank in June 2024 as Regional President of Mid-South Metro, brings over 35 years of experience in small business banking to the role.
In his new position, Ward will lead TD's efforts to deliver banking products, services, and advice to small business customers across the bank's U.S. footprint. The appointment reflects TD's strategic focus on strengthening its small business banking segment and delivering enhanced value to entrepreneurs and small business owners.
TD Bank's Financial Preparedness Report reveals significant financial readiness gaps among Americans. The survey of over 5,000 U.S. adults shows that while 44% think about financial preparedness daily, 36% lack confidence in their savings for unexpected expenses.
Key findings highlight that 70% of Americans rank medical emergencies as their top financial preparedness priority, yet only half feel prepared to cover healthcare costs. A concerning 72% have faced unexpected bills, with 59% incurring debt as a result.
Regarding retirement, 88% consider it important, but 47% feel unprepared. Notably, 31% don't set aside monthly retirement savings, 56% don't use retirement accounts, and 15% have no retirement savings at all.
On homeownership, 90% view it as part of the American Dream, but one-third of non-homeowners are pessimistic about purchasing ability. Major factors affecting homebuying decisions include affordability (55%), borrowing costs (32%), and economic uncertainty (29%).
TD Bank has announced plans to open a new Layer 6 office in New York City, expanding its AI research and development capabilities. The office, set to open in 2025 at One Vanderbilt, will initially employ 20 professionals including data scientists, machine learning scientists, and GenAI implementation specialists.
Layer 6, TD's AI research center acquired in 2018, currently operates from Toronto's MARS Innovation District. This expansion aims to support TD Bank's U.S. operations and leverage local talent to enhance the bank's AI capabilities and competitive advantage in banking innovation.
The new office will focus on advancing GenAI capabilities, streamlining processes, and delivering personalized customer experiences across TD's U.S. operations.
TD Bank has achieved the top ranking in Florida according to the J.D. Power 2025 U.S. Retail Banking Satisfaction Study, scoring 688 out of 1,000 points—28 points above the regional average. The bank climbed two positions from the previous year, particularly excelling in trust and problem resolution categories.
The comprehensive study evaluated seven key areas: account offerings, trust, people, digital channels, banking accessibility, problem resolution, and efficiency in saving time or money. With approximately 165 locations and 1,570 ATMs in Florida, TD Bank employs over 3,100 colleagues in the state.
The bank's achievement follows a two-year strategic plan to regain the top position in Florida, where it has operated for nearly 20 years. Additionally, TD Bank maintained its leadership as the No. 1 Small Business Administration lender in Florida for the eighth consecutive year in 2024.
TD Bank's annual First-Time Homebuyer Pulse survey reveals strong market confidence, with 74% of respondents feeling optimistic about the housing market despite affordability challenges. 47% are actively saving for down payments, while 33% received gifted down payments from family.
The survey of 1,001 prospective first-time homebuyers in 2025 shows that 79% believe their financial situation is stable, though 64% express concerns about interest rates affecting affordability. In response, 88% have taken steps to improve their credit scores, with 51% focusing on debt reduction.
Notable trends include 31% of respondents considering new construction due to existing home supply, with younger Millennials showing particular interest. 88% view homeownership as a smart long-term investment, and 29% prioritize proximity to family. The survey also indicates increased confidence among low to moderate income buyers, with 61% feeling knowledgeable about the mortgage process, up from 56% in 2024.
TD Bank has announced four recipients of the 2024 TD Ready Challenge grants, each receiving $1 million to support underserved small business owners. The recipients include:
- Hot Bread Kitchen in New York City, focusing on food entrepreneurship programs
- PA CDFI providing technology and coaching with emphasis on capital access
- Tampa Bay Chamber Foundation offering accelerator training and AI tools for minority-owned businesses
- Washington Area Community Investment Funds providing coaching and financial services
The initiative aims to address barriers for underserved entrepreneurs, particularly focusing on low-to-moderate-income small business owners. This year's challenge specifically targets support for underserved small business owners through innovative solutions that help develop, launch, and grow their businesses.