TD Bank Closing Dozens Of Locations, Including 6 In NJ

NEW JERSEY — TD Bank is preparing to close more than three dozen of its locations this June, including six in New Jersey.

Bank branches in Cedar Grove, Flemington, Holmdel, Marlton, Ringwood, and Spring Lake Heights will close effective June 5, the company said in a statement to Patch. A total of 38 locations will close in TD Bank's East Coast service area on that date.

"As part of our normal business practices, we regularly evaluate existing TD Bank stores, which may result in some closures, consolidations, or relocations as we look for opportunities to better align our network of stores with customer needs and preferences," a spokesperson said.

The stores in New Jersey set to close are:

• 85 Pompton Ave. #107, Cedar Grove, NJ 07009
• 1 Royal Rd., Flemington, NJ 08822
• 670 Laurel Ave., Holmdel, NJ 07733
• 191 E. Rte. 70, Marlton, NJ 08053
• 145 Skyline Dr., Ringwood, NJ 07456
• 555 Warren Ave., Spring Lake Heights, NJ 07762

TD Bank will have 216 locations in New Jersey after these six shutter, and said they are committed to making the transition "as smooth as possible" for customers. The bank's U.S. headquarters are in Cherry Hill.

This announcement also comes after the bank pleaded guilty in a federal money laundering scheme and agreed to a $3 billion fine back in October — making it the first national bank to do so.

The Department of Justice said that for more than a decade, TD Bank failed to meet its responsibilities under the federal Bank Secrecy Act, which requires financial institutions to report suspicious activity that may be linked to money laundering.

Deficiencies in the bank's anti-money laundering compliance program "allowed criminal proceeds to flow" to Colombian cartels, officials charged. You can read more about that case here.