The Globe and Mail reports in its Wednesday edition that TD Bank could have lost its licence to operate in the U.S. after it pleaded guilty to money laundering last year, a former top U.S. finance regulator says. The Globe's Stefanie Marotta writes that Rohit Chopra, who was fired as head of the Consumer Financial Protection Bureau by President Donald Trump in February, said U.S. bank regulators and the Department of Justice could have hit TD with penalties even more severe than the rarely applied restrictions that were imposed in October. If the bank had been charged with money laundering rather than conspiracy to commit the crime, that would have triggered a subsequent proceeding to explore terminating TD's charter under U.S. law. "There was criticism about the U.S. settlement because, instead of charging the bank with that criminal act, there was some legal language to skirt the requirement that the termination proceeding go forward," he said. "I am concerned that the sanctions that were put in place may not have enough teeth." Late last year, Senator Elizabeth Warren sent a letter to the DOJ saying that prosecutors allowed TD to evade criminal charges that would have triggered a bank "death penalty" provision.