TD Bank in Toronto; Independent Bank Group in McKinney, Texas; and HSBC Holdings are the latest banks to settle longstanding litigation tied to Stanford Financial Group.
TD Bank agreed to pay $1.2 billion to settle claims it aided in the $7 billion Ponzi scheme. Independent, which inherited exposure from a past acquisition, will pay $100 million, while HSBC will pay $40 million.
Allen Stanford was convicted of fraud and money laundering in 2012. He is serving a 110-year prison sentence. Litigation against the banks goes back to 2009.
Trustmark had already disclosed plans to settle for about $100 million.