According to Odaily Planet Daily, last week, U.S. Attorney General Merrick B. Garland announced in Washington that TD Bank, one of the largest financial institutions in the United States, pleaded guilty to multiple felony charges, including conspiracy to violate (Bank Secrecy Act) and money laundering.

Garland confirmed that TD Bank agreed to a $1.8 billion criminal fine, which, combined with the civil enforcement action, brings the total penalty against the bank to about $3 billion.

He noted that the resolution includes the largest-ever fine under the (Bank Secrecy Act) and is the first time the Justice Department has assessed a daily penalty against a bank.