TD Bank plans to close 38 branches across its footprint, including four in the Philadelphia region, amid massive penalties tied to U.S. anti-money laundering issues. The bank did not confirm whether the closures are part of recent cost-cutting efforts but stated it regularly evaluates its branch network to optimize service through a mix of physical locations and digital banking.

The closures span 10 states and Washington, D.C., with the highest numbers in New Jersey and Massachusetts (six each), followed by New York (five), and four each in New Hampshire and Maine. Pennsylvania and Florida will each lose three, while Connecticut, Virginia, and South Carolina will each lose two, and Washington, D.C., one. Delaware, Vermont, Rhode Island, and North Carolina remain unaffected. TD is shutting 38 of its roughly 1,100 U.S. retail branches without announcing any new openings—similar to last year, when it closed 53 and opened eight.

*Article courtesy of Philadelphia Business Journal

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