Inequality worsening as wealth gap widens to highest since 2015: TD Bank report

CP24— The gap between the highest earners and lowest income groups last year was at its widest since 2015 as the wealthiest households saw income grow much faster than lower-income Canadians. Higher interest rates are pushing middle- and lower-income households to spend more conservatively, which means consumer spending by the top earners will play a critical role in keeping the broader economy going. As the national household net worth rebounded to 4.5 per cent last year, from a 6.5 per cent...

ABC Columbia—Research shows widening wealth gap in the U.S.. The average wealth gap between white families and Black and hispanic families topped one million dollars in 2022.

Yahoo Finance—TD Bank stock under pressure amid reports of DOJ investigation. Toronto-Dominion Bank (TD) may be facing legal scrutiny by US Department of Justice (DOJ) officials leading a money laundering probe connected to illicit fentanyl profits, according to several reports. Yahoo Finance's Market Domination talks about TD Bank's stock movement following commentary from the National Bank of Canada. For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.

CP24—TD Bank hit with $9.2M penalty after failing to report suspicious transactions. TORONTO - Canada's financial-crime watchdog has levied a $9.2-million penalty against The Toronto-Dominion Bank for non-compliance with money laundering and terrorist financing measures as the bank also faces compliance investigations in the U.S. The penalty by the Financial Transactions and Reports Analysis Centre of Canada, or Fintrac, comes after it imposed a $7.5-million fine against RBC and a $1.3-million fine against CIBC, both of which were announced in December. Those penalties were...