According to The Wall Street Journal on September 29, the second largest bank in Canada, Toronto-Dominion Bank (TD Bank), is in negotiations with the United States federal prosecutors, with its American retail division expected to plead guilty to criminal charges related to money laundering activities within two weeks. US authorities accused TD Bank of failing to establish and maintain anti-money laundering systems, calling it a reckless move. It is reported that TD Bank has set aside over 3 billion US dollars to pay for resolving the US government's investigation costs. The bank stated in May that it has comprehensively reformulated its anti-money laundering program. Due to regulatory inquiries into its money laundering compliance programs in Canada and the US, the bank has invested over 0.5 billion Canadian dollars (approximately 0.4 billion US dollars) in remedial programs and platform enhancements.