Federal Reserve Approves Scottrade/TD Ameritrade Merger

ST. LOUIS (KMOX) — As expected, the Federal Reserve has approved the deal to allow Toronto-Dominion Bank to purchase Town and Country based Scottrade — a deal worth an estimated $4 billion.

Omaha-based TD Ameritrade is a subsidiary of Toronto-Dominion — the deal will bring together two of the country’s largest discount brokerage firms.

It’s expected to close by the end of the month.

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