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Responsible Banking


Building The Better Bank Material Issues How We Operate Responsible Banking


Economic Value Customer Service Privacy and Data Security Access to Banking Products and Services


Extraordinary Workplace Environmental Leadership Strengthening Communities Reporting


Helping East Vancouver Thrive Watch Spencer’s story about building a branch in the Downtown Eastside community.


Products and Services


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WAYS WE INVOLVE STAKEHOLDERS IN PRODUCT DEVELOPMENT


We recognize the value of involving stakeholders in the research and development of new or enhanced products and services. For example:


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To enhance service for the deaf and hard of hearing we recently conducted focus-group research with the deaf community. The insight provided has been integral to further strategy development and decisions regarding innovative technology enhancements.


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Recognizing the language barriers Chinese consumers experience, we conduct online omnibus research with the Chinese community in Cantonese and Mandarin.


HOW WE SELL OUR PRODUCTS AND SERVICES


We balance our practice of rewarding our employees for sales performance with a system of checks and balances to ensure that solutions offered are in the best interests of each customer.


All employees receive training on product features, Know Your Customer policies and suitability. Branch and phone-based sales representatives are trained to use online discussion tools in their conversations with customers. These tools prompt employees to consistently put the customer first, ask the right questions and suggest appropriate solutions.


GO DEEPER


CODE OF CONDUCT AND PUBLIC COMMITMENTS


LOW COST BANKING OPTIONS UNDERSTANDING TD PRODUCTS TD’S FINANCIAL LITERACY WEBSITE


PEW CHARITABLE TRUST CHECKS AND BALANCES REPORT


TD 2014 Corporate Responsibility Report Page 25


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An example is an Account Advisor, which helps ensure customers are not paying for products or services they don’t need. In the case of credit products, our credit-underwriting team checks that customers are not being overextended and offers alternative solutions if necessary.


In 2014, there were no incidents of non- compliance with regulations and voluntary codes concerning any form of marketing communications of products and services.


HELPING CUSTOMERS IN TOUGH TIMES


Canada: We encourage customers facing financial challenges to talk to us so we can help get them back on track before it’s too late. As a result, customers don’t have to resort to potentially more costly and time-consuming alternative means of financing, and we retain customers and avoid costly write-offs.


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In 2014 we helped restructure $98.1 million in loans, down from $140 million in 2013. We see this reduction as a positive sign that indicates better stability in the economy and less need for special intervention in managing household debt.


Foreclosure Avoidance in the U.S.: Compared to other banks in the U.S., TD had relatively limited exposure to subprime mortgages. TD Bank’s Loss Prevention team continued to focus on strengthening customer outreach efforts by expanding the options available and helping customers avoid losing their homes.


The value of troubled real-estate assets restructured by TD Bank in 2014 was $36 million, up from $31.9 in 2013 (U.S. dollars).





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