A MAJOR banking giant with over 1,100 branches across the US is closing dozens of locations.
TD Bank has confirmed that six of the banks are in the state of New Jersey – the location of the company’s American headquarters.
TD Bank has confirmed it is closing 38 branches across the US[/caption]
The following six branches in New Jersey are closing:
- Cedar Grove: 85-107 Pompton Ave.
- Holmdel: 670 S. Laurel Ave.
- Marlton: 191 E. Route 70
- Ringwood: 145 Skyline Drive
- Raritan Township: One Royal Road
- Spring Lake Heights: 555 Warren Ave.
The Holmdel and Spring Lake Heights branches are said to have already closed their doors ahead of June 5 – the date TD Bank had announced for their official shutdown.
TD Bank announced the move in March, explaining to The US Sun the reason behind these closures.
A spokesperson said: “As part of our ongoing strategic and business-as-usual reviews of TD’s retail locations, we evaluate things like store traffic, customer needs, product use and community landscape to determine any needed changes to our physical network – a common practice across the industry.
“Based on those evaluations, we continuously evolve our retail business to better meet the needs of customers, colleagues and communities and meet ever-changing customer expectations.”
They added that they are “committed to making this transition as smooth as possible” for costumers and colleagues.
As reported by The U.S. Sun in previous weeks, banks in 13 states are set to close today.
TD Bank closures
TD Bank chiefs have closed dozens of branches.
Connecticut
- North Branford
- Torrington
District of Columbia
- Washington DC
Florida
- Daytona Beach
- Lake City
- Miami Beach
Maine
- Fairfield
- Fort Kent
- Gorham
- Houlton
Massachusetts
- Bradford
- East Longmeadow
- Framingham
- Holyoke
- Methuen
- Tewksbury
New Hampshire
- Bristol
- Contoocook
- Hampton
- Wilton
New Jersey
- Cedar Grove
- Holmdel
- Marlton
- Ringwood
- Raritan Township
- Spring Lake Heights
New York
- 42nd and Madison
- 45th and Lexington
- Middletown
- Plattsburgh
- Greenlawn
Pennsylvania
- Philadelphia
- Frazer
- Morrisville
South Carolina
- Columbia
- Greer
Virginia
- Centreville
- Reston
While 38 branches are closing, they only represent 4 percent of the company’s store portfolio.
TD Bank, short for Toronto-Dominion Bank, is a Canadian multinational bank.
While its U.S. operations are headquartered in Cherry Hill, New Jersey, the bank’s global headquarters are in Toronto, Canada.
TD Bank offers various services including personal banking, commercial banking and wealth management.
It comes as TD Bank was subject of a money laundering probe in 2024, and agreed to pay $3 billion in a settlement.
Merrick Garland, the former attorney general, claimed the bank fostered an environment for crime to “flourish”.
In response, TD Bank has been ramping up its anti-money laundering efforts.
Bharat Masrani, the CEO of TD Bank, said: “We know what the issues are, we are fixing them.”
Last year, Masrani acknowledged that the money laundering probe had slowed the bank’s branch expansion plans.
“And I’m 100 percent confident that we get to the other side and emerge even stronger,” he said.
TD Bank is not the only company that is closing down branches.
A slew of Santander branches will be closing their doors between July 31 and August 21.
The closures will predominantly affect customers in the north east of the US.
TD Bank, short for Toronto-Dominion Bank, is a Canadian multinational bank[/caption]
