TD hits back over reports that employees broke the law

TD hits back over reports that employees broke the law

TD hits back over reports that employees broke the law TD Bank's CEO says he doesn't believe reports that employees broke the law to keep their jobs is an accurate portrayal of the bank's workplace culture. 

In a statement late Sunday, Bharat Masrani says the CBC report doesn't reflect the experience of most of the bank's staff, but he takes the concerns the story raises seriously. 

Masrani's comments came after TD Bank (TSX:TD) shares dropped more than five per cent Friday after the CBC reported that current and former bank employees alleged they broke the law to meet sales targets in order to stay employed. 

TD's stock closed Friday on the S&P/TSX composite index at $66.00, down $3.88. 


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6 Comments
  • Peter 2017-03-14 4:45:21 PM
    "TD Bank's CEO says he doesn't believe reports that employees broke the law to keep their jobs is an accurate portrayal of the bank's workplace culture".

    Maybe he should leave his penthouse office for 1 or 2 days each month and go in disguise to some of his branches to see what really goes on!

    Oh, and it really ticks me off when banks give away free tablets or TVs to NEW customers (who have never given them a penny before). Yet NEVER reward long-term loyal customers (who helped them get to the multi-billion dollar level that they currently enjoy).
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  • 2017-03-31 10:23:44 AM
    As a former TD bank management employee I can tell you that or the most part the feedback that is surfacing about sales practices is a fair reflection of the TD culture and these practices were viable to higher up management and in some cases supported by upper management. Masrani is only speaking to try an appease shareholders. If he wasn't aware of what was going on he doesn't hav a very good grasp on how TD is being run.
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  • 2017-03-31 10:23:47 AM
    As a former TD bank management employee I can tell you that or the most part the feedback that is surfacing about sales practices is a fair reflection of the TD culture and these practices were viable to higher up management and in some cases supported by upper management. Masrani is only speaking to try an appease shareholders. If he wasn't aware of what was going on he doesn't hav a very good grasp on how TD is being run.
    Post a reply