Toronto-Dominion Bank TD shares are trading higher by $0.93 at $49.95 in Monday's session.
The issue was hit hard Friday (falling from $51.77 to $49.02), when CBC cited bank employees who admitted "they have broken the law at their customers expense in a desperate bid to meet sales targets and keep their jobs."
A similar scandal rocked shares of Wells Fargo WFC in September, sending the issue in a freefall from $51.00 to the $44.00 area. It should be noted the issue has rebounded from the scandal and is trading well above the price when the scandal surfaced.
It appears the bank's response to the accusations has appeased shareholders for the time being. After a higher open, the stock retreated but found support just ahead of Friday's close ($49.02), only reaching $49.07, and has since rebounded to the $50.00 area.
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