TD Bank Closing Dozens Of Locations, Including 3 In PA

PENNSYLVANIA — TD Bank is preparing to close more than three dozen of its locations this June, including three in southeast Pennsylvania.

Bank branches in Philadelphia, Frazer, and Morrisville 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 locations in Pennsylvania set to close are:

• Chestnut Hill – 8600 Germantown Pike, Philadelphia, PA 19118
• Frazer – 101 Lancaster Avenue, Frazer, PA 19355
• Morrisville – 346 West Trenton Avenue, Morrisville, PA 19067

After these branches close, TD Bank will have about 145 locations in the Keystone State.

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.

TD Bank's U.S. headquarters are in southern New Jersey.