Apr 16, 2010

TD Bank Financial Group comments on new Code of Conduct

TORONTO---TD Bank Financial Group is pleased with the release of a Code of Conduct, announced today by Finance Minister James Flaherty, that will govern the Canadian payments industry.

"We support this Code of Conduct for the fast-changing Canadian payments market. TD has supported this concept from the beginning and we will abide by the Code," said Tim Hockey, President and CEO of TD Canada Trust. "We believe that this Code will give merchants a greater voice in the payments market, while also balancing the interests of the other participants in this industry."

TD Canada Trust has a unique perspective as the only Canadian bank that issues debit and credit cards, provides business financing and other services to merchants and operates a merchant acquiring business.

"Merchants have expressed very valid concerns about the unclear pricing practices and confusing bills of some acquirers," says Jeff van Duynhoven, President, TD Merchant Services. "This Code will provide greater pricing transparency for merchants and that's a great outcome."

The Toronto-Dominion Bank and its subsidiaries are collectively known as TD Bank Financial Group. TD Bank Financial Group is the sixth largest bank in North America by branches and serves more than 18 million customers in four key businesses operating in a number of locations in key financial centres around the globe.



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