TD Bank has pleaded guilty to charges related to money laundering and will pay a record $3 billion in penalties as part of a settlement with U.S. authorities. The financial institution has faced scrutiny for failing to monitor money laundering activities effectively, resulting in significant penalties and restrictions on its business operations in the U.S. In addition to the hefty financial fine, TD Bank will face an asset cap, preventing it from expanding its U.S. operations without prior approval from regulators. The announcement has resulted in a slump in TD Bank's stock value as concerns grow over the implications of these legal challenges on its future growth.