Bank to acquire Diners Club North America from Citigroup
Stakeholders invited to comment over the next 60 days
Extra information provided to clients in statements will reveal that credit cards can act as “financial weapons of mass destruction”
Timing of complex changes raises industry concerns
Charge-offs rising along with unemployment and personal bankruptcies
Ratings supported by the bank’s sizable domestic franchise and its financial risk profile
The rating agency expects TD’s domestic banking business to provide ongoing earnings stability
Delinquency rate jumps 19% in May
Fees for foreign currency transactions violated province’s consumer protection laws
Proposed regulations would make credit card information more transparent