TD Bank Shuttering Locations in Massachusetts and New Hampshire

Bank pleads guilty to $670 million money laundering scheme, leading to branch closures

Jan. 29, 2026 at 1:31pm

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TD Bank is closing several branch locations in Massachusetts and New Hampshire following the bank's guilty plea to a $670 million money laundering scheme involving five of its employees. The closures are part of the bank's $1.8 billion penalty agreement with the U.S. Department of Justice.

Why it matters

The TD Bank case marks the first time a bank has ever admitted to money laundering, raising concerns about the banking industry's role in enabling criminal financial activity. The branch closures will impact communities in Massachusetts and New Hampshire that have relied on local TD Bank services.

The details

As part of its plea agreement, TD Bank will be shuttering 7 locations in Massachusetts by January 29, 2026, including branches in Wareham, Beverly, Chicopee, Centerville, Lowell, Pittsfield, and Peabody. Two additional locations in New Hampshire on Route 101 in Bedford and Main Street in North Conway will also be closed.

  • In October 2024, TD Bank pled guilty to the U.S. Department of Justice's Criminal Division for conspiring to launder more than $670 million through its accounts between 2019 and 2023.
  • The 7 Massachusetts branch closures will be completed by January 29, 2026.
  • The 2 New Hampshire branch closures will also be completed by January 29, 2026.

The players

TD Bank

A major North American bank that pled guilty to a $670 million money laundering scheme involving 5 of its employees.

U.S. Department of Justice

The federal agency that prosecuted TD Bank for its role in the money laundering conspiracy, resulting in a $1.8 billion penalty for the bank.

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What’s next

The judge overseeing the TD Bank case will determine the final details of the bank's $1.8 billion penalty and monitor the closure of the impacted branch locations in Massachusetts and New Hampshire.

The takeaway

The TD Bank money laundering scandal underscores the need for greater oversight and accountability in the banking industry to prevent financial institutions from enabling criminal activity. The branch closures will disrupt banking services for many local communities, highlighting the broader impact of corporate misconduct.