U.S. Lawmakers Ask Regulator to Block TD Bank $13.4 Billion Acquisition of First Horizon -CNBC

-- U.S. Senator Elizabeth Warren and other lawmakers asked the Office of the Comptroller of the Currency to block Toronto-Dominion Bank's $13.4 billion-acquisition of Tennessee-based First Horizon, according to a report by CNBC.

-- Sen. Warren cited an investigation by Capitol Forum which alleged that TD employed some potentially fraudulent strategies with customers, including incentivizing its staff to open customer accounts and opt into overdraft protection, even if consumers declined, CNBC says.

-- A TD spokesman responded to CNBC stating that the allegations were unfounded.

-- Representatives of TD Bank and First Horizon weren't immediately available for comment to The Wall Street Journal.

Full story: https://cnb.cx/3xxnYIG

Write to Adriano Marchese at [e-mail]

(END) Dow Jones Newswires

06-15-22 1255ET